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Torigoe Q1 profit falls YOY

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Torigoe Q1 profit falls YOY

Torigoe Co. Ltd. said its normalized net income for the first quarter came to ¥6.20 per share, a decline of 30.0% from ¥8.86 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥144.4 million, a decline of 30.0% from ¥206.3 million in the prior-year period.

The normalized profit margin dropped to 2.7% from 3.8% in the year-earlier period.

Total revenue declined on an annual basis to ¥5.39 billion from ¥5.47 billion, and total operating expenses totaled ¥5.17 billion, compared with ¥5.16 billion in the year-earlier period.

Reported net income declined 33.5% from the prior-year period to ¥125.0 million, or ¥5.37 per share, from ¥188.0 million, or ¥8.08 per share.

As of May 12, US$1 was equivalent to ¥119.88.