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Sundrug fiscal Q1 profit falls YOY

Sundrug Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥26.69 per share, a decline of 18.3% from ¥32.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.36 billion, a decrease of 18.3% from ¥4.12 billion in the prior-year period.

The normalized profit margin declined to 3.3% from 3.8% in the year-earlier period.

Total revenue declined 6.7% on an annual basis to ¥100.77 billion from ¥108.01 billion, and total operating expenses declined 6.0% from the prior-year period to ¥95.48 billion from ¥101.59 billion.

Reported net income fell 15.1% on an annual basis to ¥3.31 billion, or ¥26.27 per share, from ¥3.90 billion, or ¥30.93 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.