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Nissin Foods Holdings fiscal Q1 profit falls YOY

Nissin Foods Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥37.08 per share, a decrease of 16.1% from ¥44.17 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.10 billion, a decline of 16.0% from ¥4.88 billion in the year-earlier period.

The normalized profit margin fell to 4.2% from 5.2% in the year-earlier period.

Total revenue grew on an annual basis to ¥98.40 billion from ¥94.85 billion, and total operating expenses increased 5.0% on an annual basis to ¥93.34 billion from ¥88.92 billion.

Reported net income declined 23.2% year over year to ¥4.04 billion, or ¥36.47 per share, from ¥5.26 billion, or ¥47.52 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.