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Mizuno fiscal Q1 profit falls YOY

Mizuno Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥44.00 per share, a decline of 21.4% from ¥56.00 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.11 billion, a decline of 21.0% from ¥1.40 billion in the prior-year period.

The normalized profit margin dropped to 2.4% from 3.1% in the year-earlier period.

Total revenue increased year over year to ¥46.07 billion from ¥45.20 billion, and total operating expenses increased on an annual basis to ¥44.08 billion from ¥42.72 billion.

Reported net income declined 27.7% year over year to ¥1.03 billion, or ¥41.12 per share, from ¥1.43 billion, or ¥57.22 per share.

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