Nichirin Co. Ltd. said its first-quarter normalized net income came to ¥35.60 per share, a decrease of 9.6% from ¥39.36 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥511.0 million, a decrease of 9.6% from ¥565.0 million in the year-earlier period.
The normalized profit margin declined to 4.1% from 4.7% in the year-earlier period.
Total revenue rose year over year to ¥12.58 billion from ¥12.03 billion, and total operating expenses rose 5.0% year over year to ¥11.35 billion from ¥10.81 billion.
Reported net income fell 20.9% year over year to ¥569.0 million, or ¥39.65 per share, from ¥719.0 million, or ¥50.09 per share.
As of May 13, US$1 was equivalent to ¥119.08.
