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Chuo Malleable Iron fiscal Q1 profit falls YOY

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Chuo Malleable Iron fiscal Q1 profit falls YOY

Chuo Malleable Iron Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥9.57 per share, a decline of 14.8% from ¥11.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥139.3 million, a decline of 14.8% from ¥163.5 million in the prior-year period.

The normalized profit margin dropped to 2.5% from 3.0% in the year-earlier period.

Total revenue rose on an annual basis to ¥5.55 billion from ¥5.43 billion, and total operating expenses climbed year over year to ¥5.43 billion from ¥5.37 billion.

Reported net income decreased 7.8% from the prior-year period to ¥190.0 million, or ¥13.06 per share, from ¥206.0 million, or ¥14.16 per share.

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