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Look Holdings swings to loss in Q3

Look Holdings Inc. said its third-quarter normalized net income was a loss of ¥4.35 per share, compared with ¥2.97 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 ¥166.0 million, compared with income of ¥113.6 million in the prior-year period.

The normalized profit margin fell to negative 1.6% from 1.1% in the year-earlier period.

Total revenue decreased year over year to ¥10.35 billion from ¥10.80 billion, and total operating expenses fell from the prior-year period to ¥10.61 billion from ¥10.76 billion.

Reported net income came to a loss of ¥92.0 million, or a loss of ¥2.41 per share, compared to income of ¥152.0 million, or ¥3.98 per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to ¥122.92.