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E'grand fiscal Q1 profit falls YOY

E'grand Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥19.95 per share, a decline of 48.1% from ¥38.42 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥126.9 million, a decrease of 32.3% from ¥187.5 million in the year-earlier period.

The normalized profit margin declined to 3.9% from 6.1% in the year-earlier period.

Total revenue increased 7.3% year over year to ¥3.28 billion from ¥3.06 billion, and total operating expenses increased 11.6% on an annual basis to ¥3.02 billion from ¥2.71 billion.

Reported net income fell 21.9% year over year to ¥130.0 million, or ¥20.44 per share, from ¥166.5 million, or ¥34.12 per share.

As of Aug. 5, US$1 was equivalent to ¥102.85.