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Unitika fiscal Q1 profit falls YOY

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Unitika fiscal Q1 profit falls YOY

Unitika Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥6.92 per share, a decrease of 61.2% from ¥17.82 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥398.9 million, a decline of 61.2% from ¥1.03 billion in the year-earlier period.

The normalized profit margin declined to 1.1% from 2.7% in the year-earlier period.

Total revenue came to ¥37.93 billion, compared with ¥38.23 billion in the year-earlier period, and total operating expenses came to ¥36.40 billion, compared with ¥36.38 billion in the year-earlier period.

Reported net income totaled a loss of ¥3.36 billion, or a loss of ¥58.28 per share, compared to income of ¥1.45 billion, or ¥25.07 per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to ¥102.19.