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Yomiuri Land fiscal Q1 profit falls YOY

Yomiuri Land Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥69.78 per share, a decline of 18.4% from ¥85.48 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥541.3 million, a decrease of 18.6% from ¥665.0 million in the prior-year period.

The normalized profit margin fell to 13.3% from 16.0% in the year-earlier period.

Total revenue fell on an annual basis to ¥4.08 billion from ¥4.16 billion, and total operating expenses climbed 5.0% from the prior-year period to ¥3.50 billion from ¥3.34 billion.

Reported net income declined 16.8% from the prior-year period to ¥565.0 million, or ¥72.84 per share, from ¥679.0 million, or ¥87.28 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.