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PRAP Japan fiscal Q1 profit falls YOY

PRAP Japan Inc. said its normalized net income for the fiscal first quarter ended Nov. 30, 2015, came to ¥12.61 per share, a decrease of 27.9% from ¥17.49 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥50.4 million, a decline of 27.9% from ¥69.9 million in the year-earlier period.

The normalized profit margin dropped to 4.6% from 6.1% in the year-earlier period.

Total revenue decreased year over year to ¥1.10 billion from ¥1.14 billion, and total operating expenses declined year over year to ¥1.00 billion from ¥1.02 billion.

Reported net income decreased 29.1% year over year to ¥39.0 million, or ¥9.76 per share, from ¥55.0 million, or ¥13.76 per share.

As of Jan. 14, US$1 was equivalent to ¥118.06.