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Japan Communications swings to loss in fiscal Q3

Japan Communications Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of ¥5.68 per share, compared with 34 sen 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 ¥799.4 million, compared with income of ¥48.1 million in the prior-year period.

The normalized profit margin declined to negative 87.7% from 4.5% in the year-earlier period.

Total revenue decreased 15.2% year over year to ¥911.0 million from ¥1.07 billion, and total operating expenses increased year over year to ¥2.19 billion from ¥1.04 billion.

Reported net income came to a loss of ¥1.43 billion, or a loss of ¥10.18 per share, compared to income of ¥59.0 million, or 42 sen per share, in the prior-year period.

As of Feb. 15, US$1 was equivalent to ¥114.50.