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Fukutome Meat Packers swings to loss in fiscal Q1

Fukutome Meat Packers Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥1.87 per share, compared with ¥8.42 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 ¥6.3 million, compared with income of ¥28.1 million in the prior-year period.

The normalized profit margin fell to negative 0.1% from 0.4% in the year-earlier period.

Total revenue totaled ¥6.91 billion, compared with ¥6.96 billion in the prior-year period, and total operating expenses totaled ¥6.93 billion, compared with ¥6.93 billion in the prior-year period.

Reported net income came to a loss of ¥28.0 million, or a loss of ¥8.39 per share, compared to income of ¥17.0 million, or ¥5.09 per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to ¥102.12.