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Nishikawa Rubber fiscal Q1 profit falls YOY

Nishikawa Rubber Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥41.42 per share, a decline of 27.8% from ¥57.36 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥810.9 million, a decrease of 27.8% from ¥1.12 billion in the year-earlier period.

The normalized profit margin declined to 4.1% from 5.9% in the year-earlier period.

Total revenue rose year over year to ¥19.82 billion from ¥18.92 billion, and total operating expenses grew 8.4% on an annual basis to ¥18.51 billion from ¥17.07 billion.

Reported net income declined 40.2% year over year to ¥839.0 million, or ¥42.85 per share, from ¥1.40 billion, or ¥71.66 per share.

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