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Adjuvant Cosme Japan swings to loss in fiscal Q4

Adjuvant Cosme Japan Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 20 amounted to a loss of ¥1.19 per share, compared with ¥3.63 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 ¥9.4 million, compared with income of ¥28.1 million in the prior-year period.

The normalized profit margin dropped to negative 1.0% from 2.6% in the year-earlier period.

Total revenue declined 11.3% year over year to ¥961.0 million from ¥1.08 billion, and total operating expenses declined 6.9% on an annual basis to ¥969.0 million from ¥1.04 billion.

Reported net income came to a loss of ¥166.0 million, or a loss of ¥21.03 per share, compared to a loss of ¥357.1 million, or a loss of ¥46.12 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥55.45 per share, a decline of 7.7% from ¥60.08 per share in the prior year.

Normalized net income was ¥441.3 million, a fall of 7.0% from ¥474.4 million in the prior year.

Full-year total revenue fell from the prior-year period to ¥4.40 billion from ¥4.50 billion, and total operating expenses totaled ¥3.75 billion, compared with ¥3.77 billion in the year-earlier period.

The company said reported net income increased on an annual basis to ¥266.1 million, or ¥33.44 per share, in the full year, from ¥47.1 million, or ¥5.96 per share.

As of June 17, US$1 was equivalent to ¥104.28.