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Ivy Cosmetics fiscal Q1 loss narrows YOY

Ivy Cosmetics Corp. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥49.40 per share, compared with a loss of ¥61.68 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 ¥213.8 million, compared with a loss of ¥266.9 million in the prior-year period.

The normalized profit margin increased to negative 48.8% from negative 63.1% in the year-earlier period.

Total revenue grew year over year to ¥438.0 million from ¥423.0 million, and total operating expenses decreased on an annual basis to ¥814.0 million from ¥853.0 million.

Reported net income totaled a loss of ¥227.0 million, or a loss of ¥52.47 per share, compared to a loss of ¥272.0 million, or a loss of ¥62.86 per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to ¥102.16.