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Toabo Q1 profit falls YOY

Toabo Corp. said its first-quarter normalized net income was ¥5.82 per share, a decline of 36.6% from ¥9.18 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥51.9 million, a decline of 36.6% from ¥81.9 million in the year-earlier period.

The normalized profit margin fell to 1.2% from 1.8% in the year-earlier period.

Total revenue declined 5.4% year over year to ¥4.37 billion from ¥4.62 billion, and total operating expenses decreased from the prior-year period to ¥4.22 billion from ¥4.41 billion.

Reported net income increased year over year to ¥317.0 million, or ¥35.54 per share, from ¥96.0 million, or ¥10.76 per share.

As of May 12, US$1 was equivalent to ¥119.88.