Chuo Spring Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥11.08 per share, a decline of 87.7% from ¥90.10 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥69.5 million, a decrease of 87.7% from ¥565.1 million in the year-earlier period.
The normalized profit margin dropped to 0.3% from 2.7% in the year-earlier period.
Total revenue declined on an annual basis to ¥20.22 billion from ¥20.77 billion, and total operating expenses decreased from the prior-year period to ¥20.10 billion from ¥20.46 billion.
Reported net income decreased 71.1% from the prior-year period to ¥181.0 million, or ¥28.86 per share, from ¥626.0 million, or ¥99.80 per share.
As of Aug. 8, US$1 was equivalent to ¥101.85.
