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Sagami fiscal Q1 loss narrows YOY

Sagami Co. Ltd. said its normalized net income for the fiscal first quarter ended May 20 was a loss of ¥7.29 per share, compared with a loss of ¥10.21 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 ¥289.4 million, compared with a loss of ¥405.6 million in the prior-year period.

The normalized profit margin rose to negative 6.2% from negative 8.9% in the year-earlier period.

Total revenue climbed year over year to ¥4.69 billion from ¥4.55 billion, and total operating expenses came to ¥5.16 billion, compared with ¥5.20 billion in the prior-year period.

Reported net income came to a loss of ¥514.0 million, or a loss of ¥12.95 per share, compared to a loss of ¥689.0 million, or a loss of ¥17.35 per share, in the prior-year period.

As of July 1, US$1 was equivalent to ¥101.51.