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Marusho hotta swings to loss in fiscal Q4

Marushohotta Co.Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥2.21 per share, compared with ¥2.07 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 ¥50.6 million, compared with income of ¥47.5 million in the prior-year period.

The normalized profit margin declined to negative 2.8% from 1.7% in the year-earlier period.

Total revenue decreased 35.8% on an annual basis to ¥1.83 billion from ¥2.85 billion, and total operating expenses declined 30.9% on an annual basis to ¥1.92 billion from ¥2.77 billion.

Reported net income came to a loss of ¥117.0 million, or a loss of ¥5.10 per share, compared to income of ¥32.0 million, or ¥1.39 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥4.55 per share, compared with ¥3.70 per share in the prior year.

Normalized net income was a loss of ¥104.4 million, compared with income of ¥85.0 million in the prior year.

Full-year total revenue declined 35.8% from the prior-year period to ¥6.92 billion from ¥10.77 billion, and total operating expenses declined 33.3% on an annual basis to ¥7.11 billion from ¥10.65 billion.

The company said reported net income decreased 86.3% on an annual basis to ¥7.0 million, or 31 sen per share, in the full year, from ¥51.0 million, or ¥2.22 per share.

As of June 26, US$1 was equivalent to ¥123.96.