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I.A Group fiscal Q1 profit falls YOY

I.A Group Corp. said its normalized net income for the fiscal first quarter ended June 30 came to ¥98.21 per share, a decrease of 29.4% from ¥139.02 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥170.0 million, a decrease of 30.1% from ¥243.1 million in the year-earlier period.

The normalized profit margin declined to 2.2% from 3.0% in the year-earlier period.

Total revenue decreased year over year to ¥7.79 billion from ¥7.98 billion, and total operating expenses came to ¥7.59 billion, compared with ¥7.65 billion in the prior-year period.

Reported net income fell 48.9% from the prior-year period to ¥140.0 million, or ¥80.88 per share, from ¥274.0 million, or ¥156.68 per share.

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