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Zwei fiscal Q1 profit falls YOY

Zwei Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥1.42 per share, a decrease of 76.8% from ¥6.15 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥5.6 million, a decline of 76.8% from ¥24.3 million in the prior-year period.

The normalized profit margin fell to 0.6% from 2.4% in the year-earlier period.

Total revenue declined 7.8% year over year to ¥945.0 million from ¥1.02 billion, and total operating expenses decreased 6.8% year over year to ¥952.0 million from ¥1.02 billion.

Reported net income fell 99.2% from the prior-year period to ¥158,140, or 4 sen per share, from ¥18.9 million, or ¥4.62 per share.

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