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Kose fiscal Q1 profit falls YOY

Kose Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥26.80 per share, a decrease of 5.8% from ¥28.46 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.53 billion, a decrease of 5.8% from ¥1.62 billion in the year-earlier period.

The normalized profit margin fell to 3.5% from 3.8% in the year-earlier period.

Total revenue increased 5.0% on an annual basis to ¥44.32 billion from ¥42.22 billion, and total operating expenses climbed year over year to ¥41.45 billion from ¥39.89 billion.

Reported net income decreased 22.6% from the prior-year period to ¥1.14 billion, or ¥20.02 per share, from ¥1.48 billion, or ¥25.87 per share.

As of Aug. 8, US$1 was equivalent to ¥101.85.