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Kenko Mayonnaise fiscal Q1 profit falls YOY

Kenko Mayonnaise Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥25.46 per share, a decrease of 33.8% from ¥38.48 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥361.9 million, a decline of 33.8% from ¥546.9 million in the prior-year period.

The normalized profit margin dropped to 2.5% from 3.8% in the year-earlier period.

Total revenue increased on an annual basis to ¥14.74 billion from ¥14.34 billion, and total operating expenses rose 5.1% on an annual basis to ¥14.11 billion from ¥13.42 billion.

Reported net income fell 29.9% from the prior-year period to ¥358.0 million, or ¥25.19 per share, from ¥511.0 million, or ¥35.96 per share.

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