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Hiraki fiscal Q1 profit falls YOY

Hiraki Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥27.02 per share, a decrease of 15.9% from ¥32.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥131.9 million, a decrease of 15.9% from ¥156.9 million in the prior-year period.

The normalized profit margin dropped to 2.8% from 2.9% in the year-earlier period.

Total revenue declined 12.6% on an annual basis to ¥4.65 billion from ¥5.32 billion, and total operating expenses decreased 13.6% from the prior-year period to ¥4.39 billion from ¥5.08 billion.

Reported net income fell 38.7% from the prior-year period to ¥119.0 million, or ¥24.39 per share, from ¥194.0 million, or ¥39.75 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.