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Isuzu Motors fiscal Q1 profit falls YOY

Isuzu Motors Ltd. said its normalized net income for the fiscal first quarter ended June 30 was ¥22.19 per share, a decrease of 18.8% from ¥27.31 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.74 billion, a decline of 19.0% from ¥23.13 billion in the year-earlier period.

The normalized profit margin declined to 4.6% from 5.5% in the year-earlier period.

Total revenue fell on an annual basis to ¥404.95 billion from ¥422.38 billion, and total operating expenses fell year over year to ¥367.79 billion from ¥377.90 billion.

Reported net income declined 22.7% from the prior-year period to ¥21.35 billion, or ¥25.28 per share, from ¥27.61 billion, or ¥32.59 per share.

As of Aug. 6, US$1 was equivalent to ¥102.36.