Misawa Homes Chugoku Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of ¥23.23 per share, compared with a loss of ¥9.88 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 ¥267.5 million, compared with a loss of ¥113.8 million in the year-earlier period.
The normalized profit margin declined to negative 5.0% from negative 1.7% in the year-earlier period.
Total revenue fell 21.0% year over year to ¥5.36 billion from ¥6.79 billion, and total operating expenses decreased 17.0% year over year to ¥5.77 billion from ¥6.96 billion.
Reported net income totaled a loss of ¥236.0 million, or a loss of ¥20.50 per share, compared to a loss of ¥173.0 million, or a loss of ¥15.03 per share, in the prior-year period.
As of Feb. 6, US$1 was equivalent to ¥119.01.
