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Goyo Foods Industry fiscal Q2 loss narrows YOY

Goyo Foods Industry Co. Ltd. said its normalized net income for the fiscal second quarter ended Nov. 30, 2014, came to a loss of ¥2.63 per share, compared with a loss of ¥15.80 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 ¥2.5 million, compared with a loss of ¥15.0 million in the year-earlier period.

The normalized profit margin climbed to negative 0.6% from negative 4.9% in the year-earlier period.

Total revenue climbed 42.5% on an annual basis to ¥434.0 million from ¥304.5 million, and total operating expenses climbed 35.0% on an annual basis to ¥432.0 million from ¥320.0 million.

Reported net income totaled a loss of ¥4.0 million, or a loss of ¥4.21 per share, compared to a loss of ¥22.5 million, or a loss of ¥23.70 per share, in the year-earlier period.

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