AGORA Hospitality Group Co. Ltd said its normalized net income for the first quarter amounted to a loss of 10 Japanese sen per share, compared with a loss of 18 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 ¥27.8 million, compared with a loss of ¥48.4 million in the prior-year period.

The normalized profit margin rose to negative 1.4% from negative 2.5% in the year-earlier period.

Total revenue came to ¥1.95 billion, compared with ¥1.95 billion in the prior-year period, and total operating expenses rose on an annual basis to ¥1.88 billion from ¥1.86 billion.

Reported net income totaled ¥30.4 million, or 11 sen per share, compared to a loss of ¥170.0 million, or a loss of 62 sen per share, in the year-earlier period.

As of May 16, US$1 was equivalent to ¥108.83.