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Tokyo Ichiban Foods fiscal Q4 loss widens 70.5% YOY

Tokyo Ichiban Foods Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Sept. 30 amounted to a loss of ¥15.00 per share, compared with a loss of ¥8.82 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 ¥130.0 million, compared with a loss of ¥76.3 million in the year-earlier period.

The normalized profit margin dropped to negative 19.4% from negative 10.6% in the year-earlier period.

Total revenue fell 6.5% on an annual basis to ¥671.0 million from ¥718.0 million, and total operating expenses increased from the prior-year period to ¥885.0 million from ¥851.0 million.

Reported net income totaled a loss of ¥131.2 million, or a loss of ¥15.12 per share, compared to a loss of ¥58.6 million, or a loss of ¥6.71 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥2.76 per share, a fall of 88.7% from ¥24.39 per share in the prior year.

Normalized net income was ¥24.4 million, a fall of 88.7% from ¥215.6 million in the prior year.

Full-year total revenue totaled ¥3.85 billion, compared with ¥3.82 billion in the prior year, and total operating expenses grew 9.6% year over year to ¥3.83 billion from ¥3.50 billion.

The company said reported net income declined 90.4% year over year to ¥21.1 million, or ¥2.39 per share, in the full year, from ¥220.0 million, or ¥24.89 per share.

As of Dec. 27, US$1 was equivalent to ¥117.60.