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Chita Kogyo fiscal Q1 profit falls YOY

Chita Kogyo Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥17.23 per share, a decrease from ¥17.94 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥165.0 million, a decline from ¥171.9 million in the prior-year period.

The normalized profit margin dropped to 5.3% from 5.8% in the year-earlier period.

Total revenue increased 5.2% on an annual basis to ¥3.10 billion from ¥2.94 billion, and total operating expenses climbed on an annual basis to ¥2.81 billion from ¥2.76 billion.

Reported net income rose 10.4% year over year to ¥159.0 million, or ¥16.60 per share, from ¥144.0 million, or ¥15.03 per share.

As of July 11, US$1 was equivalent to ¥101.30.