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Aisin Seiki fiscal Q1 profit falls YOY

Aisin Seiki Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥89.99 per share, compared with ¥90.07 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥25.14 billion, a decrease from ¥26.07 billion in the prior-year period.

The normalized profit margin fell to 2.7% from 3.1% in the year-earlier period.

Total revenue rose 9.3% on an annual basis to ¥917.05 billion from ¥838.70 billion, and total operating expenses rose 10.8% from the prior-year period to ¥863.51 billion from ¥779.67 billion.

Reported net income fell 24.6% on an annual basis to ¥31.49 billion, or ¥112.73 per share, from ¥41.78 billion, or ¥144.36 per share.

As of Aug. 10, US$1 was equivalent to ¥109.48.