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Taisei fiscal Q1 profit falls YOY

Taisei Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥4.56 per share, a decline of 67.8% from ¥14.18 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.04 billion, a decrease of 67.8% from ¥3.23 billion in the year-earlier period.

The normalized profit margin declined to 0.4% from 1.1% in the year-earlier period.

Total revenue rose year over year to ¥289.48 billion from ¥286.05 billion, and total operating expenses increased from the prior-year period to ¥287.89 billion from ¥282.42 billion.

Reported net income decreased 83.6% on an annual basis to ¥514.0 million, or ¥2.26 per share, from ¥3.13 billion, or ¥13.74 per share.

As of Aug. 6, US$1 was equivalent to ¥102.36.