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Gokurakuyu Holdings swings to loss in fiscal Q2

Gokurakuyu Holdings Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of ¥5.19 per share, compared with ¥2.92 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 ¥63.8 million, compared with income of ¥28.1 million in the prior-year period.

The normalized profit margin declined to negative 2.3% from 1.1% in the year-earlier period.

Total revenue climbed 11.7% year over year to ¥2.80 billion from ¥2.50 billion, and total operating expenses climbed 16.7% year over year to ¥2.90 billion from ¥2.49 billion.

Reported net income totaled a loss of ¥12.0 million, or a loss of 98 sen per share, compared to income of ¥12.0 million, or ¥1.25 per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to ¥116.46.