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Yutaka Foods fiscal Q1 profit falls YOY

Yutaka Foods Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥18.86 per share, a decrease of 31.3% from ¥27.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥165.6 million, a decline of 31.3% from ¥241.3 million in the prior-year period.

The normalized profit margin dropped to 3.3% from 4.2% in the year-earlier period.

Total revenue fell 13.1% on an annual basis to ¥5.02 billion from ¥5.77 billion, and total operating expenses fell 11.6% on an annual basis to ¥4.79 billion from ¥5.42 billion.

Reported net income fell 28.5% on an annual basis to ¥173.0 million, or ¥19.70 per share, from ¥242.0 million, or ¥27.56 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.