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Tachikawa Q1 profit falls YOY

Tachikawa Corp. said its normalized net income for the first quarter was ¥27.44 per share, a decrease of 27.1% from ¥37.66 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥534.0 million, a decrease of 27.1% from ¥733.0 million in the year-earlier period.

The normalized profit margin declined to 5.5% from 6.9% in the year-earlier period.

Total revenue fell 8.3% year over year to ¥9.78 billion from ¥10.66 billion, and total operating expenses declined 5.2% year over year to ¥8.95 billion from ¥9.44 billion.

Reported net income declined 35.1% on an annual basis to ¥450.0 million, or ¥23.12 per share, from ¥693.0 million, or ¥35.61 per share.

As of May 7, US$1 was equivalent to ¥119.50.