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J-Group Holdings swings to loss in fiscal Q1

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J-Group Holdings swings to loss in fiscal Q1

J-Group Holdings Corp. said its normalized net income for the fiscal first quarter ended May 31 came to a loss of ¥2.58 per share, compared with ¥3.84 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 ¥20.6 million, compared with income of ¥31.9 million in the prior-year period.

The normalized profit margin fell to negative 0.6% from 1.0% in the year-earlier period.

Total revenue grew 5.2% on an annual basis to ¥3.52 billion from ¥3.35 billion, and total operating expenses increased 9.0% on an annual basis to ¥3.59 billion from ¥3.29 billion.

Reported net income came to a loss of ¥99.0 million, or a loss of ¥12.38 per share, compared to income of ¥9.0 million, or ¥1.09 per share, in the year-earlier period.

As of July 13, US$1 was equivalent to ¥123.47.