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Higashimaru fiscal Q1 profit falls YOY

Higashimaru Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥9.70 per share, a decrease of 11.0% from ¥10.89 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥45.6 million, a decline of 11.0% from ¥51.3 million in the year-earlier period.

The normalized profit margin declined to 1.9% from 2.2% in the year-earlier period.

Total revenue rose year over year to ¥2.44 billion from ¥2.38 billion, and total operating expenses increased from the prior-year period to ¥2.35 billion from ¥2.31 billion.

Reported net income grew 9.3% year over year to ¥47.0 million, or ¥9.99 per share, from ¥43.0 million, or ¥9.14 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.