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Aisin Seiki fiscal Q1 profit falls YOY

Aisin Seiki Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥71.19 per share, a decrease from ¥74.67 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥20.13 billion, a decrease from ¥21.10 billion in the year-earlier period.

The normalized profit margin declined to 2.8% from 3.0% in the year-earlier period.

Total revenue climbed on an annual basis to ¥707.03 billion from ¥699.59 billion, and total operating expenses climbed year over year to ¥668.53 billion from ¥655.28 billion.

Reported net income decreased 17.7% on an annual basis to ¥23.85 billion, or ¥84.33 per share, from ¥28.99 billion, or ¥102.58 per share.

As of Aug. 6, US$1 was equivalent to ¥102.36.