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Dainichi fiscal Q1 loss widens YOY

Dainichi Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥24.74 per share, compared with a loss of ¥24.14 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 ¥437.5 million, compared with a loss of ¥426.9 million in the prior-year period.

The normalized profit margin was 131.4%.

Total revenue grew on an annual basis to ¥333.0 million from ¥137.0 million, and total operating expenses grew 23.7% on an annual basis to ¥1.08 billion from ¥871.0 million.

Reported net income came to a loss of ¥451.0 million, or a loss of ¥25.50 per share, compared to a loss of ¥417.0 million, or a loss of ¥23.58 per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to ¥101.85.