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Dynac Q1 loss narrows YOY

Dynac Corp. said its first-quarter normalized net income came to a loss of ¥6.40 per share, compared with a loss of ¥12.71 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 ¥45.0 million, compared with a loss of ¥89.4 million in the year-earlier period.

The normalized profit margin rose to negative 0.6% from negative 1.1% in the year-earlier period.

Total revenue increased year over year to ¥8.14 billion from ¥7.80 billion, and total operating expenses grew year over year to ¥8.21 billion from ¥7.94 billion.

Reported net income came to a loss of ¥124.0 million, or a loss of ¥17.63 per share, compared to a loss of ¥116.0 million, or a loss of ¥16.49 per share, in the prior-year period.

As of May 14, US$1 was equivalent to ¥119.24.