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Kyoto Kimono Yuzen fiscal Q1 profit falls YOY

Kyoto Kimono Yuzen Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥7.33 per share, a decline of 64.5% from ¥20.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥95.6 million, a decline of 68.4% from ¥302.5 million in the year-earlier period.

The normalized profit margin declined to 2.7% from 7.6% in the year-earlier period.

Total revenue fell 12.4% on an annual basis to ¥3.49 billion from ¥3.98 billion, and total operating expenses declined year over year to ¥3.35 billion from ¥3.51 billion.

Reported net income declined 65.9% from the prior-year period to ¥102.0 million, or ¥7.82 per share, from ¥299.0 million, or ¥20.42 per share.

As of Aug. 1, US$1 was equivalent to ¥102.47.