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Tsuchiya Holdings fiscal Q1 loss widens YOY

Tsuchiya Holdings Co. Ltd. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to a loss of ¥19.72 per share, compared with a loss of ¥5.17 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 ¥503.1 million, compared with a loss of ¥131.9 million in the prior-year period.

The normalized profit margin declined to negative 14.3% from negative 2.3% in the year-earlier period.

Total revenue declined 38.2% year over year to ¥3.52 billion from ¥5.69 billion, and total operating expenses declined 26.4% from the prior-year period to ¥4.35 billion from ¥5.91 billion.

Reported net income totaled a loss of ¥624.0 million, or a loss of ¥24.45 per share, compared to a loss of ¥226.0 million, or a loss of ¥8.86 per share, in the prior-year period.

As of March 13, US$1 was equivalent to ¥121.18.