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Shimojima fiscal Q1 profit falls YOY

Shimojima Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to 42 Japanese sen per share, a decrease of 94.2% from ¥7.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.9 million, a decrease of 94.2% from ¥170.0 million in the prior-year period.

The normalized profit margin dropped to 0.1% from 1.5% in the year-earlier period.

Total revenue declined 5.7% on an annual basis to ¥11.04 billion from ¥11.70 billion, and total operating expenses fell from the prior-year period to ¥11.09 billion from ¥11.45 billion.

Reported net income fell 98.9% on an annual basis to ¥2.0 million, or 9 sen per share, from ¥190.0 million, or ¥8.10 per share.

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