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MOS Food Services fiscal Q1 profit falls YOY

MOS Food Services Inc. said its normalized net income for the fiscal first quarter ended June 30 was ¥4.98 per share, a decrease of 7.4% from ¥5.37 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥153.4 million, a decline of 7.4% from ¥165.6 million in the prior-year period.

The normalized profit margin dropped to 1.0% from 1.1% in the year-earlier period.

Total revenue increased on an annual basis to ¥15.79 billion from ¥15.47 billion, and total operating expenses increased year over year to ¥15.63 billion from ¥15.29 billion.

Reported net income came to a loss of ¥58.0 million, or a loss of ¥1.88 per share, compared to income of ¥179.0 million, or ¥5.81 per share, in the prior-year period.

As of Aug. 13, US$1 was equivalent to ¥102.37.