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Yamaki swings to loss in fiscal Q3

Yamaki Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to a loss of ¥1.58 per share, compared with 62 sen 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 ¥22.9 million, compared with income of ¥4.9 million in the year-earlier period.

The normalized profit margin declined to negative 0.6% from 0.1% in the year-earlier period.

Total revenue decreased on an annual basis to ¥3.76 billion from ¥3.82 billion, and total operating expenses declined from the prior-year period to ¥3.82 billion from ¥3.89 billion.

Reported net income fell 48.9% year over year to ¥121.7 million, or ¥8.41 per share, from ¥238.3 million, or ¥30.41 per share.

As of Feb. 15, US$1 was equivalent to ¥114.50.