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FCC Co. fiscal Q1 profit falls YOY

F.C.C. Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥23.98 per share, a decrease of 59.3% from ¥58.93 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.20 billion, a decline of 59.3% from ¥2.96 billion in the prior-year period.

The normalized profit margin dropped to 3.3% from 8.2% in the year-earlier period.

Total revenue increased on an annual basis to ¥36.87 billion from ¥35.88 billion, and total operating expenses increased on an annual basis to ¥34.43 billion from ¥33.10 billion.

Reported net income declined 75.2% on an annual basis to ¥1.21 billion, or ¥24.11 per share, from ¥4.87 billion, or ¥97.06 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.