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Nihon Plast fiscal Q1 profit falls YOY

Nihon Plast Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥40.27 per share, a gain from ¥38.45 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥498.4 million, a decline of 20.9% from ¥629.8 million in the prior-year period.

The normalized profit margin declined to 1.7% from 2.4% in the year-earlier period.

Total revenue climbed 9.9% year over year to ¥28.87 billion from ¥26.26 billion, and total operating expenses grew 10.4% from the prior-year period to ¥28.20 billion from ¥25.54 billion.

Reported net income fell 36.7% from the prior-year period to ¥409.0 million, or ¥33.05 per share, from ¥646.0 million, or ¥39.44 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.