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Hachi-Ban swings to loss in fiscal Q4

Hachi-Ban Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 20 came to a loss of ¥7.97 per share, compared with ¥1.25 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 ¥25.1 million, compared with income of ¥3.8 million in the year-earlier period.

The normalized profit margin dropped to negative 1.5% from 0.2% in the year-earlier period.

Total revenue increased 11.5% on an annual basis to ¥1.70 billion from ¥1.52 billion, and total operating expenses increased 15.0% from the prior-year period to ¥1.74 billion from ¥1.52 billion.

Reported net income came to a loss of ¥43.0 million, or a loss of ¥13.65 per share, compared to a loss of ¥34.0 million, or a loss of ¥11.36 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥78.67 per share, a decrease of 17.2% from ¥94.97 per share in the prior year.

Normalized net income was ¥250.5 million, a decline of 9.7% from ¥277.5 million in the prior year.

Full-year total revenue rose 7.3% from the prior-year period to ¥7.00 billion from ¥6.52 billion, and total operating expenses increased 8.6% year over year to ¥6.72 billion from ¥6.19 billion.

The company said reported net income decreased on an annual basis to ¥207.0 million, or ¥65.01 per share, in the full year, from ¥211.0 million, or ¥72.21 per share.

As of June 18, US$1 was equivalent to ¥122.95.