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Izu Shaboten Resort fiscal Q1 loss widens 14.6% YOY

Izu Shaboten Resort Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥1.08 per share, compared with a loss of ¥1.11 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 ¥29.4 million, compared with a loss of ¥25.6 million in the year-earlier period.

The normalized profit margin increased to negative 5.6% from negative 5.7% in the year-earlier period.

Total revenue grew 15.0% on an annual basis to ¥521.0 million from ¥453.0 million, and total operating expenses increased 14.1% year over year to ¥567.0 million from ¥497.0 million.

Reported net income came to a loss of ¥60.0 million, or a loss of ¥2.21 per share, compared to a loss of ¥41.0 million, or a loss of ¥1.78 per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to ¥102.44.