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Fuji Nihon Seito fiscal Q1 profit falls YOY

Fuji Nihon Seito Corp. said its normalized net income for the fiscal first quarter ended June 30 was ¥6.80 per share, a decline of 5.5% from ¥7.20 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥182.8 million, a decrease of 5.6% from ¥193.5 million in the year-earlier period.

The normalized profit margin dropped to 3.7% from 3.8% in the year-earlier period.

Total revenue declined year over year to ¥4.97 billion from ¥5.11 billion, and total operating expenses declined from the prior-year period to ¥4.79 billion from ¥4.85 billion.

Reported net income declined 21.9% from the prior-year period to ¥143.0 million, or ¥5.32 per share, from ¥183.0 million, or ¥6.81 per share.

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