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Miyakoshi Holdings fiscal Q1 profit falls YOY

Miyakoshi Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥4.74 per share, a decrease from ¥4.82 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥73.6 million, a decrease from ¥74.9 million in the year-earlier period.

The normalized profit margin climbed to 26.0% from 6.3% in the year-earlier period.

Total revenue fell 76.3% year over year to ¥283.0 million from ¥1.20 billion, and total operating expenses decreased 85.0% year over year to ¥157.0 million from ¥1.05 billion.

Reported net income fell 10.0% year over year to ¥63.0 million, or ¥4.06 per share, from ¥70.0 million, or ¥4.51 per share.

As of Aug. 7, US$1 was equivalent to ¥124.28.