Taisei Corporation (TISCF), a construction and civil engineering company, Friday reported net income of 29.501 billion yen or 173.42 yen per share for the first quarter, higher than 23.356 billion yen or 126.73 yen per share in the same quarter a year ago, primarily helped by lower cost of sales.
Operating income increased 109.1% to 39.287 billion yen from 18.790 billion yen in the prior year.
Net sales, however, declined 3.7% to 440.339 billion yen from 457.064 billion yen last year, mainly due to lower sales in construction business.
For the full year, the company expects net sales to decline 9% year-on-year to 1,960 billion yen. Net income is expected to decrease 35.4% to 80 billion yen with EPS of 484.22 yen.
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