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Kyoto Tool fiscal Q1 profit falls YOY

Kyoto Tool Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥19.30 per share, a decline of 42.5% from ¥33.54 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥46.3 million, a decline of 42.5% from ¥80.4 million in the prior-year period.

The normalized profit margin dropped to 2.7% from 5.0% in the year-earlier period.

Total revenue increased year over year to ¥1.68 billion from ¥1.61 billion, and total operating expenses rose 8.6% year over year to ¥1.62 billion from ¥1.49 billion.

Reported net income rose 39.5% from the prior-year period to ¥106.0 million, or ¥44.24 per share, from ¥76.0 million, or ¥31.71 per share.

As of Aug. 6, US$1 was equivalent to ¥124.71.