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Nissan Tokyo Sales fiscal Q1 profit falls YOY

Nissan Tokyo Sales Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 34 Japanese sen per share, a decrease of 93.3% from ¥5.11 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥22.5 million, a decline of 93.4% from ¥340.0 million in the year-earlier period.

The normalized profit margin declined to 0.1% from 1.1% in the year-earlier period.

Total revenue came to ¥32.12 billion, compared with ¥31.90 billion in the year-earlier period, and total operating expenses increased on an annual basis to ¥31.94 billion from ¥31.21 billion.

Reported net income totaled a loss of ¥141.0 million, or a loss of ¥2.13 per share, compared to income of ¥286.0 million, or ¥4.30 per share, in the year-earlier period.

As of Aug. 8, US$1 was equivalent to ¥101.85.