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Omikenshi swings to loss in fiscal Q1

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Omikenshi swings to loss in fiscal Q1

Omikenshi Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 90 Japanese sen per share, compared with 10 sen 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 ¥59.4 million, compared with income of ¥13.1 million in the prior-year period.

The normalized profit margin dropped to negative 1.8% from 0.4% in the year-earlier period.

Total revenue fell 11.1% on an annual basis to ¥3.28 billion from ¥3.69 billion, and total operating expenses fell 8.5% on an annual basis to ¥3.30 billion from ¥3.60 billion.

Reported net income totaled a loss of ¥100.0 million, or a loss of ¥1.52 per share, compared to income of ¥137.0 million, or ¥1.06 per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to ¥124.86.