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Tanaka Seimitsu Kogyo swings to loss in fiscal Q4

Tanaka Seimitsu Kogyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥10.41 per share, compared with ¥4.35 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 ¥101.6 million, compared with income of ¥42.5 million in the year-earlier period.

The normalized profit margin fell to negative 0.8% from 0.3% in the year-earlier period.

Total revenue came to ¥12.36 billion, compared with ¥12.43 billion in the year-earlier period, and total operating expenses declined on an annual basis to ¥11.87 billion from ¥12.04 billion.

Reported net income came to a loss of ¥2.64 billion, or a loss of ¥270.68 per share, compared to income of ¥108.0 million, or ¥11.06 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥20.86 per share, compared with ¥29.74 per share in the prior year.

Normalized net income was a loss of ¥203.6 million, compared with income of ¥290.3 million in the prior year.

Full-year total revenue decreased 7.0% from the prior-year period to ¥48.01 billion from ¥51.65 billion, and total operating expenses decreased 5.9% on an annual basis to ¥46.97 billion from ¥49.92 billion.

The company said reported net income totaled a loss of ¥3.52 billion, or a loss of ¥360.83 per share, in the full year, compared with income of ¥212.0 million, or ¥21.72 per share, the prior year.

As of June 22, US$1 was equivalent to ¥123.23.