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Marusho hotta swings to loss in fiscal Q3

Marusho hotta Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to a loss of 25 Japanese sen per share, compared with ¥1.06 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 ¥5.6 million, compared with income of ¥24.4 million in the year-earlier period.

The normalized profit margin fell to negative 0.3% from 0.9% in the year-earlier period.

Total revenue fell 34.4% on an annual basis to ¥1.83 billion from ¥2.80 billion, and total operating expenses fell 33.1% on an annual basis to ¥1.85 billion from ¥2.76 billion.

Reported net income came to a loss of ¥14.0 million, or a loss of 61 sen per share, compared to income of ¥24.0 million, or ¥1.05 per share, in the year-earlier period.

As of Feb. 10, US$1 was equivalent to ¥119.28.