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Sanko Marketing Foods fiscal Q1 loss widens YOY

Sanko Marketing Foods Co. Ltd. said its normalized net income for the fiscal first quarter ended Sept. 30 came to a loss of ¥2.13 per share, compared with a loss of 100 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥30.6 million, compared with a loss of ¥14.4 million in the prior-year period.

The normalized profit margin dropped to negative 0.9% from negative 0.4% in the year-earlier period.

Total revenue declined 7.1% on an annual basis to ¥3.25 billion from ¥3.50 billion, and total operating expenses decreased 8.9% from the prior-year period to ¥3.30 billion from ¥3.63 billion.

Reported net income totaled a loss of ¥59.0 million, or a loss of ¥4.10 per share, compared to a loss of ¥94.0 million, or a loss of ¥6.53 per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to ¥122.78.