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Nippon Shikizai swings to loss in fiscal Q2

Nippon Shikizai Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to a loss of ¥75.36 per share, compared with ¥15.94 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 ¥65.0 million, compared with income of ¥13.8 million in the prior-year period.

The normalized profit margin fell to negative 3.6% from 0.8% in the year-earlier period.

Total revenue climbed year over year to ¥1.79 billion from ¥1.75 billion, and total operating expenses grew 9.5% year over year to ¥1.88 billion from ¥1.71 billion.

Reported net income came to a loss of ¥91.0 million, or a loss of ¥105.50 per share, compared to income of ¥4.0 million, or ¥4.64 per share, in the prior-year period.

As of Oct. 10, US$1 was equivalent to ¥107.98.