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Ashimori Industry swings to loss in fiscal Q1

Ashimori Industry Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥4.40 per share, compared with ¥20.28 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 ¥26.6 million, compared with income of ¥115.0 million in the year-earlier period.

The normalized profit margin dropped to negative 0.2% from 1.1% in the year-earlier period.

Total revenue climbed year over year to ¥10.66 billion from ¥10.46 billion, and total operating expenses came to ¥10.69 billion, compared with ¥10.62 billion in the prior-year period.

Reported net income totaled a loss of ¥61.0 million, or a loss of ¥10.07 per share, compared to a loss of ¥2.37 billion, or a loss of ¥417.96 per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to ¥102.12.