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Murata Manufacturing fiscal Q1 profit falls YOY

Murata Manufacturing Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥124.47 per share, a decrease of 15.7% from ¥147.63 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥26.48 billion, a decline of 15.6% from ¥31.36 billion in the prior-year period.

The normalized profit margin dropped to 9.6% from 12.0% in the year-earlier period.

Total revenue increased 5.4% on an annual basis to ¥274.96 billion from ¥260.93 billion, and total operating expenses increased 10.3% year over year to ¥234.02 billion from ¥212.23 billion.

Reported net income decreased 12.0% year over year to ¥33.14 billion, or ¥155.76 per share, from ¥37.67 billion, or ¥177.38 per share.

As of Aug. 10, US$1 was equivalent to ¥109.48.