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Ginza Renoir fiscal Q1 profit falls YOY

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Ginza Renoir fiscal Q1 profit falls YOY

Ginza Renoir Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to ¥13.16 per share, a decline of 21.7% from ¥16.80 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥80.6 million, a decrease of 20.9% from ¥101.9 million in the year-earlier period.

The normalized profit margin declined to 4.5% from 6.0% in the year-earlier period.

Total revenue climbed 5.1% on an annual basis to ¥1.79 billion from ¥1.70 billion, and total operating expenses increased 7.9% on an annual basis to ¥1.67 billion from ¥1.55 billion.

Reported net income declined 8.5% from the prior-year period to ¥74.5 million, or ¥12.16 per share, from ¥81.4 million, or ¥13.43 per share.

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