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Kintetsu Department Store fiscal Q3 loss narrows YOY

Kintetsu Department Store Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, was a loss of ¥11.00 per share, compared with a loss of ¥12.07 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 ¥444.1 million, compared with a loss of ¥487.3 million in the prior-year period.

The normalized profit margin increased to negative 0.7% from negative 0.8% in the year-earlier period.

Total revenue came to ¥63.51 billion, compared with ¥63.92 billion in the year-earlier period, and total operating expenses totaled ¥64.05 billion, compared with ¥64.45 billion in the prior-year period.

Reported net income totaled a loss of ¥977.0 million, or a loss of ¥24.20 per share, compared to a loss of ¥192.0 million, or a loss of ¥4.76 per share, in the prior-year period.

As of Jan. 14, US$1 was equivalent to ¥116.84.