Chuo Spring Profits Slide as Costs Outpace Revenue Growth

The Japanese manufacturer saw revenue climb to 56.25 billion yen compared to 54.06 billion yen a year earlier, yet rising expenses weighed heavily on the bottom line. Operating profit plummeted to 388 million yen from 1.50 billion yen, while pretax profit dropped to 700 million yen from 1.96 billion yen. Under Japanese accounting standards, these results translate to earnings of 30.78 yen per share, down significantly from the 53.06 yen per share recorded in the previous year.