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Kosaikogei swings to loss in fiscal Q3

Kosaikogei Co. Ltd. said its normalized net income for the fiscal third quarter ended Oct. 31 was a loss of ¥23.36 per share, compared with ¥13.34 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 ¥8.8 million, compared with income of ¥5.0 million in the year-earlier period.

The normalized profit margin declined to negative 1.1% from 0.8% in the year-earlier period.

Total revenue rose 15.1% on an annual basis to ¥761.0 million from ¥661.0 million, and total operating expenses increased 19.9% on an annual basis to ¥777.0 million from ¥648.0 million.

Reported net income came to a loss of ¥6.0 million, or a loss of ¥16.02 per share, compared to income of ¥7.0 million, or ¥18.68 per share, in the prior-year period.

As of Dec. 11, US$1 was equivalent to ¥119.44.