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Isetan Mitsukoshi fiscal Q1 profit falls YOY

Isetan Mitsukoshi Holdings Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥11.62 per share, a decrease of 34.4% from ¥17.72 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.60 billion, a decrease of 34.4% from ¥7.01 billion in the prior-year period.

The normalized profit margin declined to 1.6% from 2.3% in the year-earlier period.

Total revenue fell 6.1% year over year to ¥284.69 billion from ¥303.19 billion, and total operating expenses declined from the prior-year period to ¥278.35 billion from ¥292.61 billion.

Reported net income decreased 28.8% from the prior-year period to ¥4.82 billion, or ¥12.16 per share, from ¥6.76 billion, or ¥17.08 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.