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Jeco fiscal Q1 profit falls YOY

Jeco Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥127.38 per share, a decline of 11.8% from ¥144.50 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥212.4 million, a decrease of 12.3% from ¥242.1 million in the prior-year period.

The normalized profit margin dropped to 3.7% from 4.3% in the year-earlier period.

Total revenue increased on an annual basis to ¥5.75 billion from ¥5.69 billion, and total operating expenses came to ¥5.41 billion, compared with ¥5.37 billion in the prior-year period.

Reported net income declined 24.4% on an annual basis to ¥245.0 million, or ¥146.95 per share, from ¥324.0 million, or ¥193.36 per share.

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