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Jeans Mate fiscal Q1 loss narrows YOY

Jeans Mate Corp. said its normalized net income for the fiscal first quarter ended May 20 came to a loss of ¥2.52 per share, compared with a loss of ¥8.12 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 ¥27.5 million, compared with a loss of ¥88.8 million in the year-earlier period.

The normalized profit margin rose to negative 1.2% from negative 3.8% in the year-earlier period.

Total revenue totaled ¥2.31 billion, compared with ¥2.33 billion in the year-earlier period, and total operating expenses declined year over year to ¥2.36 billion from ¥2.48 billion.

Reported net income totaled a loss of ¥85.0 million, or a loss of ¥7.78 per share, compared to a loss of ¥179.0 million, or a loss of ¥16.38 per share, in the year-earlier period.

As of July 3, US$1 was equivalent to ¥102.19.