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AEON fiscal Q1 profit falls YOY

AEON Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥9.69 per share, a decline of 41.7% from ¥16.62 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥8.13 billion, a decline of 42.2% from ¥14.06 billion in the year-earlier period.

The normalized profit margin declined to 0.5% from 1.0% in the year-earlier period.

Total revenue grew 17.2% on an annual basis to ¥1.713 trillion from ¥1.462 trillion, and total operating expenses grew 18.5% year over year to ¥1.691 trillion from ¥1.427 trillion.

Reported net income declined 90.8% on an annual basis to ¥1.20 billion, or ¥1.43 per share, from ¥13.07 billion, or ¥15.44 per share.

As of July 15, US$1 was equivalent to ¥101.70.