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Japan Resistor Mfg. Q1 loss widens YOY

Japan Resistor Mfg. Co. Ltd. said its normalized net income for the first quarter amounted to a loss of ¥41.71 per share, compared with a loss of ¥4.65 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 ¥51.6 million, compared with a loss of ¥5.8 million in the year-earlier period.

The normalized profit margin fell to negative 4.3% from negative 0.4% in the year-earlier period.

Total revenue declined 13.1% year over year to ¥1.19 billion from ¥1.37 billion, and total operating expenses decreased 11.0% year over year to ¥1.22 billion from ¥1.37 billion.

Reported net income came to a loss of ¥51.0 million, or a loss of ¥41.20 per share, compared to a loss of ¥29.0 million, or a loss of ¥23.43 per share, in the prior-year period.

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