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JXTG Holdings swings to loss in fiscal Q2

JXTG Holdings Inc. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of ¥28.23 per share, compared with ¥6.13 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 ¥70.18 billion, compared with income of ¥15.24 billion in the prior-year period.

The normalized profit margin dropped to negative 3.1% from 0.5% in the year-earlier period.

Total revenue decreased 19.7% year over year to ¥2.248 trillion from ¥2.802 trillion, and total operating expenses fell 14.9% from the prior-year period to ¥2.374 trillion from ¥2.790 trillion.

Reported net income totaled a loss of ¥98.24 billion, or a loss of ¥39.51 per share, compared with income of ¥3.50 billion, or ¥1.41 per share, in the prior-year period.

As of Nov. 12, US$1 was equivalent to ¥122.92.