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Kintetsu Department Store fiscal Q2 loss narrows YOY

Kintetsu Department Store Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to a loss of ¥1.29 per share, compared with a loss of ¥5.19 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 ¥52.1 million, compared with a loss of ¥209.4 million in the year-earlier period.

The normalized profit margin increased to negative 0.1% from negative 0.3% in the year-earlier period.

Total revenue fell on an annual basis to ¥67.66 billion from ¥68.44 billion, and total operating expenses declined on an annual basis to ¥67.34 billion from ¥68.74 billion.

Reported net income came to a loss of ¥101.0 million, or a loss of ¥2.50 per share, compared to a loss of ¥1.40 billion, or a loss of ¥34.75 per share, in the prior-year period.

As of Oct. 14, US$1 was equivalent to ¥107.05.