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Starts Corp. fiscal Q1 profit falls YOY

Starts Corp. Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥39.48 per share, a decrease of 5.5% from ¥41.79 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.97 billion, a decline from ¥2.00 billion in the prior-year period.

The normalized profit margin increased to 6.0% from 5.1% in the year-earlier period.

Total revenue declined 15.9% year over year to ¥32.86 billion from ¥39.10 billion, and total operating expenses declined 16.8% year over year to ¥29.46 billion from ¥35.40 billion.

Reported net income grew on an annual basis to ¥4.50 billion, or ¥90.09 per share, from ¥2.00 billion, or ¥41.79 per share.

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