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Hokuto fiscal Q1 loss widens 42.6% YOY

Hokuto Corp. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥27.28 per share, compared with a loss of ¥19.17 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 ¥868.8 million, compared with a loss of ¥609.4 million in the prior-year period.

The normalized profit margin declined to negative 7.3% from negative 5.9% in the year-earlier period.

Total revenue rose 15.9% year over year to ¥11.96 billion from ¥10.33 billion, and total operating expenses increased 12.9% from the prior-year period to ¥13.34 billion from ¥11.81 billion.

Reported net income totaled a loss of ¥1.00 billion, or a loss of ¥31.47 per share, compared to a loss of ¥695.0 million, or a loss of ¥21.87 per share, in the year-earlier period.

As of Aug. 12, US$1 was equivalent to ¥102.19.