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Forside Q1 loss widens YOY

Forside Co. Ltd. said its normalized net income for the first quarter amounted to a loss of ¥1.83 per share, compared with a loss of ¥1.91 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 ¥43.1 million, compared with a loss of ¥41.9 million in the year-earlier period.

The normalized profit margin declined to negative 21.6% from negative 18.4% in the year-earlier period.

Total revenue fell 11.9% on an annual basis to ¥200.0 million from ¥227.0 million, and total operating expenses fell 5.6% year over year to ¥268.0 million from ¥284.0 million.

Reported net income totaled a loss of ¥69.0 million, or a loss of ¥2.92 per share, compared to a loss of ¥67.0 million, or a loss of ¥3.05 per share, in the year-earlier period.

As of May 13, US$1 was equivalent to ¥109.14.