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Kozosushi Co. swings to profit in Q3

4916435 said its normalized net income for the third quarter amounted to ¥1.11 per share, compared with a loss of ¥2.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥33.1 million, compared with a loss of ¥73.8 million in the year-earlier period.

The normalized profit margin rose to 2.4% from negative 2.5% in the year-earlier period.

Total revenue fell 53.5% on an annual basis to ¥1.36 billion from ¥2.92 billion, and total operating expenses decreased 56.9% on an annual basis to ¥1.30 billion from ¥3.01 billion.

Reported net income totaled ¥47.0 million, or ¥1.58 per share, compared to a loss of ¥178.0 million, or a loss of ¥6.16 per share, in the year-earlier period.

s of Nov. 16, US$1 was equivalent to ¥123.10.Kozosushi Co. LTD.