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Pia fiscal Q1 profit falls YOY

Pia Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥21.21 per share, a decline from ¥21.61 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥298.9 million, a decrease from ¥304.0 million in the year-earlier period.

The normalized profit margin declined to 0.8% from 0.9% in the year-earlier period.

Total revenue grew 11.5% on an annual basis to ¥35.87 billion from ¥32.16 billion, and total operating expenses grew 11.7% from the prior-year period to ¥35.39 billion from ¥31.67 billion.

Reported net income rose 30.1% from the prior-year period to ¥496.9 million, or ¥35.25 per share, from ¥382.0 million, or ¥27.15 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.