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Maruha Group fiscal Q1 profit falls YOY

Maruha Group Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥33.96 per share, an increase from ¥5.89 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.79 billion, a decrease of 42.3% from ¥3.10 billion in the prior-year period.

The normalized profit margin dropped to 0.9% from 1.5% in the year-earlier period.

Total revenue increased year over year to ¥205.28 billion from ¥202.90 billion, and total operating expenses came to ¥201.22 billion, compared with ¥199.28 billion in the year-earlier period.

Reported net income grew 40.4% from the prior-year period to ¥3.91 billion, or ¥74.27 per share, from ¥2.79 billion, or ¥5.29 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.