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Hub Co. Ltd. fiscal Q1 profit falls YOY

Hub Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to ¥10.65 per share, a decline of 20.1% from ¥13.34 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥120.0 million, a decrease of 20.0% from ¥150.0 million in the prior-year period.

The normalized profit margin fell to 5.2% from 7.0% in the year-earlier period.

Total revenue climbed 7.1% year over year to ¥2.30 billion from ¥2.15 billion, and total operating expenses rose 10.2% on an annual basis to ¥2.11 billion from ¥1.91 billion.

Reported net income fell 20.5% on an annual basis to ¥116.0 million, or ¥10.30 per share, from ¥146.0 million, or ¥12.98 per share.

As of July 11, US$1 was equivalent to ¥101.30.