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Yuasa Funashoku fiscal Q1 profit falls YOY

Yuasa Funashoku Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥70.37 per share, a decline of 7.7% from ¥76.24 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥316.5 million, a decrease of 9.7% from ¥350.6 million in the prior-year period.

The normalized profit margin declined to 1.2% from 1.3% in the year-earlier period.

Total revenue fell 5.9% on an annual basis to ¥25.39 billion from ¥26.99 billion, and total operating expenses decreased 5.6% year over year to ¥25.05 billion from ¥26.55 billion.

Reported net income declined 18.1% year over year to ¥295.0 million, or ¥65.59 per share, from ¥360.0 million, or ¥78.27 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.