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Watabe Wedding fiscal Q1 loss narrows YOY

Watabe Wedding Corp. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥11.93 per share, compared with a loss of ¥15.72 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 ¥118.3 million, compared with a loss of ¥155.8 million in the year-earlier period.

The normalized profit margin climbed to negative 1.1% from negative 1.3% in the year-earlier period.

Total revenue declined 9.5% year over year to ¥11.13 billion from ¥12.30 billion, and total operating expenses decreased 9.2% on an annual basis to ¥11.34 billion from ¥12.49 billion.

Reported net income totaled a loss of ¥65.0 million, or a loss of ¥6.56 per share, compared to a loss of ¥210.0 million, or a loss of ¥21.19 per share, in the prior-year period.

As of Aug. 1, US$1 was equivalent to ¥102.47.