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Intertrade fiscal Q1 loss narrows YOY

Intertrade Co.Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, came to a loss of ¥2.70 per share, compared with a loss of ¥8.70 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 ¥19.4 million, compared with a loss of ¥62.5 million in the prior-year period.

The normalized profit margin increased to negative 3.3% from negative 11.2% in the year-earlier period.

Total revenue grew 5.7% on an annual basis to ¥590.0 million from ¥558.0 million, and total operating expenses declined 5.3% on an annual basis to ¥621.0 million from ¥656.0 million.

Reported net income came to a loss of ¥31.0 million, or a loss of ¥4.31 per share, compared to a loss of ¥100.0 million, or a loss of ¥13.92 per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to ¥112.83.