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Chori fiscal Q1 profit falls YOY

Chori Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥18.43 per share, a decrease of 25.4% from ¥24.69 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥451.9 million, a decline of 25.4% from ¥605.5 million in the prior-year period.

The normalized profit margin dropped to 0.8% from 1.0% in the year-earlier period.

Total revenue decreased 6.5% year over year to ¥54.89 billion from ¥58.70 billion, and total operating expenses declined 6.4% on an annual basis to ¥54.26 billion from ¥57.97 billion.

Reported net income grew 80.6% year over year to ¥1.37 billion, or ¥55.92 per share, from ¥759.0 million, or ¥30.95 per share.

As of Aug. 14, US$1 was equivalent to ¥102.44.