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France Bed Holdings fiscal Q1 profit falls YOY

France Bed Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥7.47 per share, a decline of 18.0% from ¥9.12 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥320.0 million, a decline of 19.6% from ¥398.1 million in the year-earlier period.

The normalized profit margin declined to 2.6% from 3.1% in the year-earlier period.

Total revenue fell on an annual basis to ¥12.38 billion from ¥12.67 billion, and total operating expenses fell year over year to ¥11.87 billion from ¥12.02 billion.

Reported net income declined 24.2% year over year to ¥257.0 million, or ¥6.00 per share, from ¥339.0 million, or ¥7.76 per share.

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