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AT-Group fiscal Q1 profit falls YOY

AT-Group Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥60.46 per share, a decline of 23.1% from ¥78.59 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.03 billion, a decline of 23.1% from ¥2.64 billion in the year-earlier period.

The normalized profit margin declined to 2.4% from 2.9% in the year-earlier period.

Total revenue decreased 7.5% year over year to ¥84.35 billion from ¥91.19 billion, and total operating expenses decreased 6.3% year over year to ¥82.17 billion from ¥87.71 billion.

Reported net income decreased 15.8% on an annual basis to ¥2.28 billion, or ¥67.75 per share, from ¥2.71 billion, or ¥80.45 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.