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Hoosiers Holdings fiscal Q1 profit falls YOY

Hoosiers Holdings said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥13.07 per share, a decrease of 72.2% from ¥47.04 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥413.1 million, a decrease of 72.2% from ¥1.48 billion in the year-earlier period.

The normalized profit margin dropped to 6.1% from 16.4% in the year-earlier period.

Total revenue fell 25.4% year over year to ¥6.76 billion from ¥9.07 billion, and total operating expenses decreased 8.6% year over year to ¥6.03 billion from ¥6.59 billion.

Reported net income decreased 61.9% from the prior-year period to ¥558.7 million, or ¥17.68 per share, from ¥1.47 billion, or ¥46.49 per share.

As of Aug. 14, US$1 was equivalent to ¥102.44.