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Shuei Yobiko fiscal Q1 loss narrows YOY

Shuei Yobiko Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥65.58 per share, compared with a loss of ¥72.01 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥440.0 million, compared with a loss of ¥483.1 million in the prior-year period.

The normalized profit margin climbed to negative 20.6% from negative 22.3% in the year-earlier period.

Total revenue decreased on an annual basis to ¥2.13 billion from ¥2.17 billion, and total operating expenses decreased on an annual basis to ¥2.83 billion from ¥2.92 billion.

Reported net income totaled a loss of ¥737.0 million, or a loss of ¥109.85 per share, compared to a loss of ¥487.0 million, or a loss of ¥72.59 per share, in the prior-year period.

As of Aug. 12, US$1 was equivalent to ¥102.19.