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Nissei Build Kogyo fiscal Q1 profit falls YOY

Nissei Build Kogyo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥3.72 per share, a decline of 24.0% from ¥4.90 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥122.5 million, a decline of 24.6% from ¥162.5 million in the prior-year period.

The normalized profit margin declined to 1.6% from 1.9% in the year-earlier period.

Total revenue declined 5.8% year over year to ¥7.86 billion from ¥8.35 billion, and total operating expenses declined 5.2% year over year to ¥7.69 billion from ¥8.11 billion.

Reported net income grew 6.2% on an annual basis to ¥147.4 million, or ¥4.48 per share, from ¥138.7 million, or ¥4.17 per share.

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