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Imasen Electric fiscal Q1 profit falls YOY

Imasen Electric Industrial Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥33.10 per share, a decrease of 30.1% from ¥47.37 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥688.4 million, a decrease of 30.1% from ¥985.3 million in the prior-year period.

The normalized profit margin fell to 2.5% from 3.9% in the year-earlier period.

Total revenue increased 8.7% year over year to ¥27.15 billion from ¥24.97 billion, and total operating expenses grew 7.5% from the prior-year period to ¥25.93 billion from ¥24.13 billion.

Reported net income decreased 14.0% year over year to ¥898.2 million, or ¥43.19 per share, from ¥1.04 billion, or ¥50.23 per share.

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