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Ajinomoto fiscal Q1 profit falls YOY

Ajinomoto Co. Inc. said its normalized net income for the fiscal first quarter ended June 30 came to ¥13.22 per share, compared with ¥13.35 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥7.83 billion, a decrease of 6.3% from ¥8.36 billion in the year-earlier period.

The normalized profit margin declined to 3.4% from 3.5% in the year-earlier period.

Total revenue declined 6.0% year over year to ¥227.58 billion from ¥242.08 billion, and total operating expenses fell 6.1% from the prior-year period to ¥213.69 billion from ¥227.63 billion.

Reported net income decreased on an annual basis to ¥10.95 billion, or ¥18.48 per share, from ¥11.33 billion, or ¥18.11 per share.

As of Aug. 7, US$1 was equivalent to ¥102.16.