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Kitamura fiscal Q2 loss widens YOY

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Kitamura fiscal Q2 loss widens YOY

Kitamura Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of ¥19.37 per share, compared with a loss of ¥7.13 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 ¥346.6 million, compared with a loss of ¥123.1 million in the prior-year period.

The normalized profit margin fell to negative 0.9% from negative 0.4% in the year-earlier period.

Total revenue climbed 7.0% on an annual basis to ¥36.77 billion from ¥34.36 billion, and total operating expenses climbed 8.0% on an annual basis to ¥37.38 billion from ¥34.60 billion.

Reported net income totaled a loss of ¥714.0 million, or a loss of ¥39.90 per share, compared to a loss of ¥174.0 million, or a loss of ¥10.08 per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to ¥116.46.