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Saibo fiscal Q1 profit falls YOY

Saibo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥17.01 per share, a decline of 16.9% from ¥20.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥226.4 million, a decline of 17.4% from ¥274.0 million in the year-earlier period.

The normalized profit margin fell to 10.6% from 13.4% in the year-earlier period.

Total revenue climbed year over year to ¥2.13 billion from ¥2.05 billion, and total operating expenses grew from the prior-year period to ¥1.83 billion from ¥1.77 billion.

Reported net income rose 29.2% on an annual basis to ¥236.8 million, or ¥17.75 per share, from ¥183.4 million, or ¥13.70 per share.

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