KYB Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥119.20 per share, a decline of 17.5% from ¥144.56 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.05 billion, a decrease from ¥3.20 billion in the prior-year period.
The normalized profit margin declined to 3.4% from 3.8% in the year-earlier period.
Total revenue climbed 8.5% on an annual basis to ¥90.13 billion from ¥83.06 billion, and total operating expenses increased 8.8% year over year to ¥85.06 billion from ¥78.21 billion.
Reported net income rose 22.6% from the prior-year period to ¥3.99 billion, or ¥156.08 per share, from ¥3.25 billion, or ¥147.17 per share.
As of Aug. 8, US$1 was equivalent to ¥101.85.
