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Nagahori swings to loss in fiscal Q1

Nagahori Corp. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥8.15 per share, compared with ¥1.96 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 ¥125.0 million, compared with income of ¥30.0 million in the year-earlier period.

The normalized profit margin declined to negative 2.8% from 0.6% in the year-earlier period.

Total revenue decreased 14.7% year over year to ¥4.42 billion from ¥5.17 billion, and total operating expenses decreased 9.9% year over year to ¥4.62 billion from ¥5.13 billion.

Reported net income totaled a loss of ¥131.0 million, or a loss of ¥8.54 per share, compared to a loss of ¥8.0 million, or a loss of 52 sen per share, in the year-earlier period.

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