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TAC Co. Ltd. fiscal Q1 profit falls YOY

TAC Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥19.15 per share, a decrease of 23.1% from ¥24.92 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥354.4 million, a decline of 22.0% from ¥454.4 million in the year-earlier period.

The normalized profit margin dropped to 6.6% from 8.1% in the year-earlier period.

Total revenue decreased year over year to ¥5.40 billion from ¥5.64 billion, and total operating expenses fell on an annual basis to ¥4.83 billion from ¥4.90 billion.

Reported net income decreased 30.8% from the prior-year period to ¥352.0 million, or ¥19.02 per share, from ¥509.0 million, or ¥27.91 per share.

As of Aug. 11, US$1 was equivalent to ¥102.12.