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Maruman & Co. fiscal Q1 loss widens 48.6% YOY

Maruman & Co. Ltd. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, amounted to a loss of ¥5.46 per share, compared with a loss of ¥3.68 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 ¥66.9 million, compared with a loss of ¥45.0 million in the prior-year period.

The normalized profit margin dropped to negative 4.3% from negative 3.0% in the year-earlier period.

Total revenue grew 5.6% year over year to ¥1.57 billion from ¥1.49 billion, and total operating expenses climbed 6.3% from the prior-year period to ¥1.62 billion from ¥1.53 billion.

Reported net income came to a loss of ¥109.0 million, or a loss of ¥8.90 per share, compared to a loss of ¥45.0 million, or a loss of ¥3.68 per share, in the prior-year period.

As of Feb. 12, US$1 was equivalent to ¥112.83.