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JXTG Holdings fiscal Q1 profit falls YOY

JXTG Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥2.00 per share, a decline of 87.5% from ¥16.05 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.99 billion, a decline of 87.5% from ¥39.90 billion in the prior-year period.

The normalized profit margin declined to 0.2% from 1.4% in the year-earlier period.

Total revenue decreased year over year to ¥2.641 trillion from ¥2.774 trillion, and total operating expenses fell on an annual basis to ¥2.638 trillion from ¥2.720 trillion.

Reported net income decreased 60.3% on an annual basis to ¥14.16 billion, or ¥5.69 per share, from ¥35.67 billion, or ¥14.35 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.