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ICDA Holdings fiscal Q1 profit falls YOY

International Conglomerate of Distribution for Automobile Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥7.08 per share, a decline of 89.8% from ¥69.37 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.9 million, a decrease of 88.2% from ¥125.8 million in the prior-year period.

The normalized profit margin declined to 0.3% from 2.2% in the year-earlier period.

Total revenue fell on an annual basis to ¥5.37 billion from ¥5.62 billion, and total operating expenses totaled ¥5.36 billion, compared with ¥5.39 billion in the year-earlier period.

Reported net income decreased 86.9% from the prior-year period to ¥16.0 million, or ¥7.62 per share, from ¥122.0 million, or ¥67.30 per share.

As of Aug. 14, US$1 was equivalent to ¥102.44.