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Toyota Industries fiscal Q1 profit falls YOY

Toyota Industries Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥104.47 per share, a decrease of 15.1% from ¥123.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥32.83 billion, a decline of 15.1% from ¥38.67 billion in the prior-year period.

The normalized profit margin fell to 6.2% from 7.1% in the year-earlier period.

Total revenue declined on an annual basis to ¥529.79 billion from ¥541.01 billion, and total operating expenses fell year over year to ¥501.67 billion from ¥511.80 billion.

Reported net income decreased 11.1% year over year to ¥41.27 billion, or ¥131.33 per share, from ¥46.41 billion, or ¥147.68 per share.

As of Aug. 10, US$1 was equivalent to ¥101.31.