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Shiseido swings to loss in fiscal Q1

Shiseido Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of 3 Japanese sen per share, compared with ¥10.03 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 ¥13.0 million, compared with income of ¥4.00 billion in the prior-year period.

The normalized profit margin dropped to negative 0.0% from 2.5% in the year-earlier period.

Total revenue rose year over year to ¥168.38 billion from ¥162.36 billion, and total operating expenses climbed 7.4% year over year to ¥167.01 billion from ¥155.49 billion.

Reported net income came to a loss of ¥1.78 billion, or a loss of ¥4.47 per share, compared to income of ¥2.66 billion, or ¥6.67 per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to ¥102.16.