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Harakosan fiscal Q2 loss narrows YOY

Harakosan Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 was a loss of ¥1.69 per share, compared with a loss of ¥3.05 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 ¥65.6 million, compared with a loss of ¥68.1 million in the prior-year period.

The normalized profit margin increased to negative 2.7% from negative 26.9% in the year-earlier period.

Total revenue climbed on an annual basis to ¥2.44 billion from ¥253.0 million, and total operating expenses grew from the prior-year period to ¥2.51 billion from ¥268.0 million.

Reported net income totaled a loss of ¥106.0 million, or a loss of ¥2.73 per share, compared to a loss of ¥116.0 million, or a loss of ¥5.19 per share, in the year-earlier period.

As of Oct. 14, US$1 was equivalent to ¥107.05.