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Ensuiko Sugar Refining swings to loss in fiscal Q4

Ensuiko Sugar Refining Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥1.77 per share, compared with 79 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 ¥48.1 million, compared with income of ¥21.3 million in the prior-year period.

The normalized profit margin declined to negative 0.8% from 0.3% in the year-earlier period.

Total revenue declined 5.0% on an annual basis to ¥5.97 billion from ¥6.29 billion, and total operating expenses decreased on an annual basis to ¥6.03 billion from ¥6.18 billion.

Reported net income came to a loss of ¥103.0 million, or a loss of ¥3.80 per share, compared to a loss of ¥23.0 million, or a loss of 86 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥13.46 per share, compared with ¥13.59 per share in the prior year.

Normalized net income was ¥362.5 million, compared with ¥365.0 million in the prior year.

Full-year total revenue declined on an annual basis to ¥26.32 billion from ¥27.27 billion, and total operating expenses decreased on an annual basis to ¥25.75 billion from ¥26.51 billion.

The company said reported net income increased 17.4% on an annual basis to ¥317.0 million, or ¥11.77 per share, in the full year, from ¥270.0 million, or ¥10.05 per share.

As of June 25, US$1 was equivalent to ¥123.71.