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Dynic fiscal Q1 profit falls YOY

Dynic Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥21.01 per share, a decline of 12.8% from ¥24.10 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥178.1 million, a decrease of 12.8% from ¥204.4 million in the prior-year period.

The normalized profit margin declined to 1.8% from 2.1% in the year-earlier period.

Total revenue rose year over year to ¥10.13 billion from ¥9.81 billion, and total operating expenses grew from the prior-year period to ¥9.93 billion from ¥9.54 billion.

Reported net income decreased 69.4% year over year to ¥97.0 million, or ¥11.44 per share, from ¥317.0 million, or ¥37.39 per share.

As of Aug. 12, US$1 was equivalent to ¥102.19.