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Kozosushi Co. swings to profit in Q2

Kozosushi Co. LTD. said its normalized net income for the second quarter was 46 Japanese sen per share, compared with a loss of ¥7.82 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥13.8 million, compared with a loss of ¥192.5 million in the prior-year period.

The normalized profit margin increased to 1.0% from negative 6.3% in the year-earlier period.

Total revenue fell 54.3% year over year to ¥1.39 billion from ¥3.05 billion, and total operating expenses decreased 59.1% from the prior-year period to ¥1.36 billion from ¥3.31 billion.

Reported net income came to ¥13.0 million, or 44 sen per share, compared to a loss of ¥416.0 million, or a loss of ¥16.91 per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to ¥124.29.