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Tokai Rika fiscal Q1 profit falls YOY

Tokai Rika Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥50.77 per share, a decrease of 6.3% from ¥54.21 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.60 billion, a decline of 6.1% from ¥4.90 billion in the prior-year period.

The normalized profit margin dropped to 4.3% from 4.6% in the year-earlier period.

Total revenue totaled ¥107.68 billion, compared with ¥106.97 billion in the year-earlier period, and total operating expenses rose on an annual basis to ¥100.38 billion from ¥98.91 billion.

Reported net income grew 7.0% year over year to ¥5.15 billion, or ¥56.87 per share, from ¥4.82 billion, or ¥53.27 per share.

As of July 31, US$1 was equivalent to ¥102.82.