Chofu Seisakusho Co. Ltd. said its normalized net income for the first quarter amounted to ¥18.49 per share, a decline of 51.7% from ¥38.27 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥642.5 million, a decline of 51.7% from ¥1.33 billion in the year-earlier period.
The normalized profit margin declined to 6.1% from 9.6% in the year-earlier period.
Total revenue fell 24.2% on an annual basis to ¥10.46 billion from ¥13.81 billion, and total operating expenses decreased 17.6% on an annual basis to ¥9.96 billion from ¥12.09 billion.
Reported net income fell 44.3% from the prior-year period to ¥757.0 million, or ¥21.79 per share, from ¥1.36 billion, or ¥39.15 per share.
As of May 13, US$1 was equivalent to ¥119.08.
