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Kajima swings to loss in fiscal Q2

Kajima Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 76 Japanese sen per share, compared with ¥3.51 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 ¥787.8 million, compared with income of ¥3.65 billion in the year-earlier period.

The normalized profit margin fell to negative 0.2% from 1.0% in the year-earlier period.

Total revenue increased 8.7% on an annual basis to ¥400.97 billion from ¥368.81 billion, and total operating expenses rose 11.2% from the prior-year period to ¥404.26 billion from ¥363.68 billion.

Reported net income declined 44.9% year over year to ¥2.68 billion, or ¥2.58 per share, from ¥4.87 billion, or ¥4.69 per share.

As of Nov. 12, US$1 was equivalent to ¥115.15.