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Sumitomo Riko fiscal Q1 profit falls YOY

Sumitomo Riko Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥4.52 per share, a decrease of 33.0% from ¥6.74 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥469.0 million, a decrease of 33.0% from ¥699.9 million in the prior-year period.

The normalized profit margin fell to 0.5% from 0.9% in the year-earlier period.

Total revenue increased 17.6% year over year to ¥95.02 billion from ¥80.79 billion, and total operating expenses grew 18.5% from the prior-year period to ¥93.50 billion from ¥78.90 billion.

Reported net income fell 78.5% from the prior-year period to ¥93.0 million, or 90 sen per share, from ¥433.0 million, or ¥4.17 per share.

As of July 30, US$1 was equivalent to ¥102.83.