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Onward Holdings fiscal Q2 loss widens 12.6% YOY

Onward Holdings Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to a loss of ¥10.32 per share, compared with a loss of ¥9.17 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 ¥1.62 billion, compared with a loss of ¥1.44 billion in the prior-year period.

The normalized profit margin declined to negative 2.8% from negative 2.4% in the year-earlier period.

Total revenue declined on an annual basis to ¥58.56 billion from ¥60.15 billion, and total operating expenses declined on an annual basis to ¥61.95 billion from ¥63.20 billion.

Reported net income came to a loss of ¥1.83 billion, or a loss of ¥11.63 per share, compared to a loss of ¥2.19 billion, or a loss of ¥13.96 per share, in the prior-year period.

As of Oct. 15, US$1 was equivalent to ¥106.21.