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Global Food Creators swings to loss in fiscal Q1

Global Food Creators Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥2.06 per share, compared with 22 sen 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 ¥11.9 million, compared with income of ¥1.3 million in the year-earlier period.

The normalized profit margin fell to negative 0.2% from 0.0% in the year-earlier period.

Total revenue fell year over year to ¥5.04 billion from ¥5.16 billion, and total operating expenses declined year over year to ¥5.08 billion from ¥5.17 billion.

Reported net income totaled a loss of ¥9.0 million, or a loss of ¥1.56 per share, compared to income of ¥6.0 million, or ¥1.04 per share, in the year-earlier period.

As of Aug. 8, US$1 was equivalent to ¥101.85.