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Ito En fiscal Q1 profit falls YOY

Ito En Ltd. said its normalized net income for the fiscal first quarter ended July 31 amounted to ¥10.11 per share, a decrease of 62.9% from ¥27.26 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.24 billion, a decrease of 62.9% from ¥3.36 billion in the year-earlier period.

The normalized profit margin fell to 1.0% from 2.8% in the year-earlier period.

Total revenue totaled ¥118.70 billion, compared with ¥119.19 billion in the prior-year period, and total operating expenses rose from the prior-year period to ¥116.50 billion from ¥113.62 billion.

Reported net income decreased 68.6% year over year to ¥938.1 million, or ¥7.62 per share, from ¥2.99 billion, or ¥24.27 per share.

As of Sept. 12, US$1 was equivalent to ¥107.36.