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G-7 Holdings fiscal Q1 profit falls YOY

G-7 Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥12.74 per share, a decline of 61.6% from ¥33.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥155.0 million, a decrease of 61.6% from ¥403.8 million in the prior-year period.

The normalized profit margin declined to 0.8% from 2.0% in the year-earlier period.

Total revenue totaled ¥20.28 billion, compared with ¥20.40 billion in the prior-year period, and total operating expenses climbed year over year to ¥20.06 billion from ¥19.81 billion.

Reported net income fell 69.1% from the prior-year period to ¥117.0 million, or ¥9.61 per share, from ¥379.0 million, or ¥31.14 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.