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Soko Seiren fiscal Q1 loss widens 43.7% YOY

Soko Seiren Co.Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥12.99 per share, compared with a loss of ¥9.04 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 ¥92.5 million, compared with a loss of ¥64.4 million in the prior-year period.

The normalized profit margin fell to negative 11.5% from negative 7.3% in the year-earlier period.

Total revenue decreased 8.3% on an annual basis to ¥804.0 million from ¥877.0 million, and total operating expenses fell 7.7% year over year to ¥922.0 million from ¥999.0 million.

Reported net income totaled a loss of ¥154.0 million, or a loss of ¥21.63 per share, compared to a loss of ¥37.0 million, or a loss of ¥5.19 per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to ¥123.89.