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Rizap Group fiscal Q1 loss widens YOY

Rizap Group Inc. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥1.46 per share, compared with a loss of ¥1.44 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥360.1 million, compared with a loss of ¥354.4 million in the prior-year period.

The normalized profit margin increased to negative 4.2% from negative 7.7% in the year-earlier period.

Total revenue increased 84.2% on an annual basis to ¥8.48 billion from ¥4.60 billion, and total operating expenses rose 72.1% year over year to ¥8.94 billion from ¥5.20 billion.

Reported net income totaled ¥49.0 million, or 20 sen per share, compared to a loss of ¥414.0 million, or a loss of ¥1.68 per share, in the year-earlier period.

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