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Adastria fiscal Q1 profit falls YOY

Adastria Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 came to ¥19.42 per share, a decline of 57.4% from ¥45.53 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥943.1 million, a decline of 52.4% from ¥1.98 billion in the prior-year period.

The normalized profit margin dropped to 2.2% from 6.4% in the year-earlier period.

Total revenue rose 41.5% on an annual basis to ¥43.59 billion from ¥30.81 billion, and total operating expenses increased 51.7% from the prior-year period to ¥42.16 billion from ¥27.78 billion.

Reported net income declined 86.0% from the prior-year period to ¥256.4 million, or ¥5.27 per share, from ¥1.83 billion, or ¥42.02 per share.

As of July 15, US$1 was equivalent to ¥101.70.