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Chubu Shiryo fiscal Q1 profit falls YOY

Chubu Shiryo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥8.30 per share, a decline of 55.2% from ¥18.51 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥218.4 million, a decrease of 55.0% from ¥485.4 million in the prior-year period.

The normalized profit margin declined to 0.6% from 1.3% in the year-earlier period.

Total revenue climbed 5.4% year over year to ¥38.73 billion from ¥36.73 billion, and total operating expenses climbed 6.6% from the prior-year period to ¥38.45 billion from ¥36.05 billion.

Reported net income fell 52.3% year over year to ¥236.0 million, or ¥8.97 per share, from ¥495.0 million, or ¥18.88 per share.

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