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Ministop swings to loss in fiscal Q4

MINISTOP Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 29 came to a loss of 75 Japanese sen per share, compared with ¥14.69 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 ¥21.6 million, compared with income of ¥425.1 million in the prior-year period.

The normalized profit margin dropped to negative 0.0% from 1.0% in the year-earlier period.

Total revenue grew 59.6% on an annual basis to ¥64.79 billion from ¥40.59 billion, and total operating expenses grew 62.4% year over year to ¥65.35 billion from ¥40.24 billion.

Reported net income totaled a loss of ¥542.6 million, or a loss of ¥18.71 per share, compared to a loss of ¥414.4 million, or a loss of ¥14.34 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥81.21 per share, a decline of 10.0% from ¥90.23 per share in the prior year.

Normalized net income was ¥2.36 billion, a fall of 10.0% from ¥2.62 billion in the prior year.

Full-year total revenue rose 31.7% on an annual basis to ¥213.53 billion from ¥162.12 billion, and total operating expenses grew 32.5% year over year to ¥210.93 billion from ¥159.16 billion.

The company said reported net income rose 10.5% on an annual basis to ¥968.3 million, or ¥33.39 per share, in the full year, from ¥876.5 million, or ¥30.23 per share.

As of May 23, US$1 was equivalent to ¥109.43.