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CB Group Management swings to loss in fiscal Q1

CB Group Management Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥31.30 per share, compared with ¥128.85 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 ¥68.8 million, compared with income of ¥283.1 million in the prior-year period.

The normalized profit margin declined to negative 0.2% from 0.8% in the year-earlier period.

Total revenue declined year over year to ¥32.76 billion from ¥33.76 billion, and total operating expenses decreased on an annual basis to ¥32.89 billion from ¥33.32 billion.

Reported net income came to a loss of ¥224.0 million, or a loss of ¥101.98 per share, compared to income of ¥258.0 million, or ¥117.41 per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to ¥102.19.