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T.RAD Co. Ltd. fiscal Q1 profit falls YOY

T.RAD Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥66.41 per share, a decrease of 37.7% from ¥106.52 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥545.6 million, a decline of 37.7% from ¥875.3 million in the year-earlier period.

The normalized profit margin fell to 2.3% from 3.9% in the year-earlier period.

Total revenue increased 7.7% year over year to ¥23.88 billion from ¥22.18 billion, and total operating expenses increased 9.7% year over year to ¥23.09 billion from ¥21.05 billion.

Reported net income totaled ¥398.0 million, or ¥48.44 per share, compared to ¥399.0 million, or ¥48.56 per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to ¥101.85.