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Tokyo Ichiban Foods fiscal Q2 profit falls YOY

Tokyo Ichiban Foods Co. Ltd. said its normalized net income for the fiscal second quarter ended March 31 came to ¥19.22 per share, a decrease of 5.1% from ¥20.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥169.4 million, a decline from ¥175.6 million in the prior-year period.

The normalized profit margin fell to 13.7% from 15.2% in the year-earlier period.

Total revenue rose 7.1% on an annual basis to ¥1.24 billion from ¥1.16 billion, and total operating expenses grew 10.2% year over year to ¥971.0 million from ¥881.0 million.

Reported net income increased from the prior-year period to ¥150.1 million, or ¥17.03 per share, from ¥147.4 million, or ¥17.00 per share.

As of May 8, US$1 was equivalent to ¥119.78.