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Tokatsu Holdings fiscal Q1 profit falls YOY

Tokatsu Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥10.78 per share, a decrease of 20.1% from ¥13.49 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥53.1 million, a decrease of 19.8% from ¥66.3 million in the year-earlier period.

The normalized profit margin dropped to 3.4% from 3.8% in the year-earlier period.

Total revenue decreased 9.4% on an annual basis to ¥1.57 billion from ¥1.73 billion, and total operating expenses fell 8.6% year over year to ¥1.48 billion from ¥1.62 billion.

Reported net income fell 15.3% on an annual basis to ¥54.7 million, or ¥11.09 per share, from ¥64.6 million, or ¥13.15 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.