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Warabeya Nichiyo Holdings fiscal Q1 profit falls YOY

Warabeya Nichiyo Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥41.87 per share, a decrease from ¥43.68 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥737.5 million, a decrease from ¥769.4 million in the year-earlier period.

The normalized profit margin dropped to 1.5% from 1.7% in the year-earlier period.

Total revenue rose 13.0% on an annual basis to ¥50.36 billion from ¥44.55 billion, and total operating expenses climbed 13.5% year over year to ¥49.23 billion from ¥43.36 billion.

Reported net income fell year over year to ¥676.0 million, or ¥38.38 per share, from ¥698.0 million, or ¥39.63 per share.

As of July 4, US$1 was equivalent to ¥102.07.