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Qol fiscal Q1 profit falls YOY

Qol Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥11.18 per share, a decrease of 25.0% from ¥14.89 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥365.1 million, a decrease of 7.2% from ¥393.3 million in the year-earlier period.

The normalized profit margin fell to 1.3% from 1.6% in the year-earlier period.

Total revenue grew 12.2% year over year to ¥27.28 billion from ¥24.31 billion, and total operating expenses rose 12.8% year over year to ¥26.70 billion from ¥23.66 billion.

Reported net income increased 28.2% year over year to ¥227.0 million, or ¥6.95 per share, from ¥177.0 million, or ¥6.70 per share.

As of Aug. 14, US$1 was equivalent to ¥102.44.