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Kitamura fiscal Q4 loss widens 45.2% YOY

KITAMURA Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥56.25 per share, compared with a loss of ¥38.76 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 ¥1.01 billion, compared with a loss of ¥693.5 million in the prior-year period.

The normalized profit margin dropped to negative 2.9% from negative 1.8% in the year-earlier period.

Total revenue fell 9.8% on an annual basis to ¥35.05 billion from ¥38.84 billion, and total operating expenses decreased 8.3% from the prior-year period to ¥36.70 billion from ¥40.04 billion.

Reported net income totaled a loss of ¥1.44 billion, or a loss of ¥80.42 per share, compared to a loss of ¥1.28 billion, or a loss of ¥71.31 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥39.55 per share, a decrease of 40.0% from ¥65.92 per share in the prior year.

Normalized net income was ¥707.8 million, a decline of 40.0% from ¥1.18 billion in the prior year.

Full-year total revenue amounted to ¥154.22 billion, compared with ¥153.17 billion in the prior year, and total operating expenses increased on an annual basis to ¥153.27 billion from ¥151.53 billion.

The company said reported net income fell 84.4% on an annual basis to ¥70.0 million, or ¥3.91 per share, in the full year, from ¥449.0 million, or ¥25.09 per share.

As of June 21, US$1 was equivalent to ¥104.55.