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Fujiya Q1 profit falls YOY

Fujiya Co. Ltd. said its first-quarter normalized net income was ¥4.63 per share, a decrease of 63.5% from ¥12.69 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥119.3 million, a decrease of 63.5% from ¥327.1 million in the year-earlier period.

The normalized profit margin declined to 0.5% from 1.3% in the year-earlier period.

Total revenue grew 5.8% year over year to ¥26.35 billion from ¥24.91 billion, and total operating expenses rose 6.5% on an annual basis to ¥26.05 billion from ¥24.45 billion.

Reported net income declined 91.7% on an annual basis to ¥28.0 million, or ¥1.09 per share, from ¥339.0 million, or ¥13.15 per share.

As of May 11, US$1 was equivalent to ¥119.93.