Nihon Chouzai Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥32.55 per share, a decrease of 17.8% from ¥39.60 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥473.1 million, a decrease of 17.4% from ¥572.6 million in the prior-year period.
The normalized profit margin dropped to 1.1% from 1.4% in the year-earlier period.
Total revenue climbed 8.6% on an annual basis to ¥43.13 billion from ¥39.73 billion, and total operating expenses grew 9.3% from the prior-year period to ¥42.25 billion from ¥38.66 billion.
Reported net income declined 22.5% from the prior-year period to ¥293.0 million, or ¥20.15 per share, from ¥378.0 million, or ¥26.14 per share.
As of Aug. 14, US$1 was equivalent to ¥102.44.
