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Nichimo fiscal Q1 loss narrows YOY

Nichimo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥12.11 per share, compared with a loss of ¥20.55 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 ¥41.3 million, compared with a loss of ¥70.0 million in the prior-year period.

The normalized profit margin increased to negative 0.2% from negative 0.3% in the year-earlier period.

Total revenue climbed on an annual basis to ¥25.05 billion from ¥24.39 billion, and total operating expenses grew year over year to ¥25.02 billion from ¥24.56 billion.

Reported net income totaled a loss of ¥107.0 million, or a loss of ¥31.41 per share, compared to a loss of ¥146.0 million, or a loss of ¥42.86 per share, in the year-earlier period.

As of Aug. 13, US$1 was equivalent to ¥102.37.