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Topre fiscal Q1 profit falls YOY

Topre Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥33.69 per share, a decline of 19.6% from ¥41.93 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.69 billion, a decline of 19.7% from ¥2.10 billion in the year-earlier period.

The normalized profit margin fell to 6.1% from 9.0% in the year-earlier period.

Total revenue grew 17.3% on an annual basis to ¥27.46 billion from ¥23.42 billion, and total operating expenses grew 16.0% from the prior-year period to ¥24.45 billion from ¥21.09 billion.

Reported net income decreased 61.1% from the prior-year period to ¥1.69 billion, or ¥33.83 per share, from ¥4.35 billion, or ¥86.87 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.