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Nihon Seimitsu fiscal Q1 loss narrows YOY

Nihon Seimitsu Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 8 Japanese sen per share, compared with a loss of 49 sen 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 ¥1.3 million, compared with a loss of ¥7.5 million in the year-earlier period.

The normalized profit margin climbed to negative 0.1% from negative 0.5% in the year-earlier period.

Total revenue increased 16.8% year over year to ¥1.85 billion from ¥1.59 billion, and total operating expenses climbed 14.0% from the prior-year period to ¥1.83 billion from ¥1.61 billion.

Reported net income came to a loss of ¥3.0 million, or a loss of 20 sen per share, compared to a loss of ¥12.0 million, or a loss of 79 sen per share, in the prior-year period.

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