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Nihon Seima fiscal Q1 profit falls YOY

The Nihon Seima Co.Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥1.19 per share, a decline of 23.9% from ¥1.57 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.4 million, a decline of 23.9% from ¥5.8 million in the year-earlier period.

The normalized profit margin declined to 0.4% from 0.5% in the year-earlier period.

Total revenue declined 13.4% on an annual basis to ¥1.03 billion from ¥1.19 billion, and total operating expenses fell 11.3% from the prior-year period to ¥1.01 billion from ¥1.13 billion.

Reported net income fell 50.0% from the prior-year period to ¥2.0 million, or 55 sen per share, from ¥4.0 million, or ¥1.09 per share.

As of Aug. 13, US$1 was equivalent to ¥124.46.