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T&D Holdings fiscal Q1 net profit declines

T&D Holdings Inc. posted a decline in consolidated profit attributable to owners for the fiscal first quarter ended June 30 to ¥19.45 billion from ¥24.96 billion, as ordinary revenues fell.

EPS for the quarter fell to ¥30.22 per share from or ¥37.83 per share.

Ordinary revenues dropped to ¥457.30 billion from ¥488.20 billion, while ordinary profit declined to ¥37.55 billion from ¥45.45 billion.

Income from insurance premiums fell to ¥340.98 billion from ¥378.22 billion, while investment income rose to ¥95.95 billion from ¥92.07 billion.

Taiyo Life Insurance Co., a unit of the group, reported a rise in fiscal first-quarter net income to ¥8.65 billion from ¥7.45 billion on lower extraordinary losses.

The unit's ordinary revenues fell to ¥208.19 billion from ¥220 billion, while ordinary profit declined to ¥16.65 billion from ¥18.56 billion. Extraordinary losses dropped to ¥775 million from ¥4.61 billion.

Income from insurance premiums declined to ¥103.70 billion from ¥168.95 billion, while investment income dropped to ¥47.28 billion from ¥48.47 billion.

Daido Life Insurance Co., also a unit of the group, posted a decline in fiscal first-quarter net income to ¥10.30 billion from ¥13.44 billion as investment income dropped and expenses rose.

Ordinary revenues rose to ¥238.37 billion from ¥236.72 billion, while ordinary profit fell to ¥19.83 billion from ¥21.45 billion. Ordinary expenses increased to ¥218.54 billion from ¥215.27 billion.

The unit's income from insurance premium climbed to ¥190.56 billion from ¥186.93 billion, while investment income declined to ¥38.88 billion from ¥43.12 billion.

As of Aug. 8, US$1 was equivalent to ¥110.77.