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Toyo Suisan Kaisha fiscal Q1 profit falls YOY

Toyo Suisan Kaisha Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥30.88 per share, a decrease of 37.2% from ¥49.19 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.15 billion, a decrease of 37.2% from ¥5.02 billion in the prior-year period.

The normalized profit margin fell to 3.7% from 5.7% in the year-earlier period.

Total revenue fell year over year to ¥86.03 billion from ¥87.87 billion, and total operating expenses grew from the prior-year period to ¥81.25 billion from ¥80.07 billion.

Reported net income declined 51.2% on an annual basis to ¥3.29 billion, or ¥32.17 per share, from ¥6.73 billion, or ¥65.87 per share.

As of Aug. 13, US$1 was equivalent to ¥102.37.