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Ishigaki Foods fiscal Q1 loss widens YOY

Ishigaki Foods Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥1.84 per share, compared with a loss of 92 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥6.3 million, compared with a loss of ¥3.1 million in the year-earlier period.

The normalized profit margin fell to negative 4.2% from negative 1.7% in the year-earlier period.

Total revenue fell 18.0% on an annual basis to ¥150.0 million from ¥183.0 million, and total operating expenses fell 15.3% on an annual basis to ¥160.0 million from ¥189.0 million.

Reported net income came to a loss of ¥10.0 million, or a loss of ¥2.95 per share, compared to a loss of ¥1.0 million, or a loss of 30 sen per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to ¥102.19.