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Kyoto Kimono Yuzen fiscal Q1 profit falls YOY

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Kyoto Kimono Yuzen fiscal Q1 profit falls YOY

Kyoto Kimono Yuzen Co.Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥7.38 per share, compared with ¥7.33 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥88.1 million, a decrease of 7.8% from ¥95.6 million in the prior-year period.

The normalized profit margin dropped to 2.7% from 2.7% in the year-earlier period.

Total revenue fell 6.1% year over year to ¥3.27 billion from ¥3.49 billion, and total operating expenses decreased 5.6% from the prior-year period to ¥3.16 billion from ¥3.35 billion.

Reported net income fell 17.6% from the prior-year period to ¥84.0 million, or ¥7.03 per share, from ¥102.0 million, or ¥7.82 per share.

As of Aug. 3, US$1 was equivalent to ¥123.94.