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Sangetsu fiscal Q1 profit falls YOY

Sangetsu Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥16.13 per share, a decrease of 11.8% from ¥18.29 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.23 billion, a decrease of 11.8% from ¥1.39 billion in the year-earlier period.

The normalized profit margin fell to 3.8% from 4.6% in the year-earlier period.

Total revenue rose 6.1% on an annual basis to ¥32.12 billion from ¥30.26 billion, and total operating expenses climbed 7.7% on an annual basis to ¥30.39 billion from ¥28.22 billion.

Reported net income decreased 6.5% year over year to ¥1.30 billion, or ¥17.03 per share, from ¥1.39 billion, or ¥18.22 per share.

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