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Kabushiki Kaisha Seiyoken fiscal Q1 loss widens 90.0% YOY

Kabushiki Kaisha Seiyoken said its normalized net income for the fiscal first quarter ended April 30 amounted to a loss of ¥9.13 per share, compared with a loss of ¥4.81 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 ¥23.8 million, compared with a loss of ¥12.5 million in the prior-year period.

The normalized profit margin dropped to negative 3.4% from negative 1.7% in the year-earlier period.

Total revenue decreased 6.0% on an annual basis to ¥695.0 million from ¥739.0 million, and total operating expenses declined from the prior-year period to ¥734.0 million from ¥763.0 million.

Reported net income came to ¥572.0 million, or ¥219.93 per share, compared to a loss of ¥19.0 million, or a loss of ¥7.31 per share, in the year-earlier period.

As of June 12, US$1 was equivalent to ¥123.29.