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Kozosushi Co. swings to profit in full year

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Kozosushi Co. swings to profit in full year

Kozosushi Co. LTD. said its normalized net income for the full year amounted to 92 Japanese sen per share, compared with a loss of ¥23.82 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥27.5 million, compared with a loss of ¥598.8 million in the year-earlier period.

The normalized profit margin climbed to 0.5% from negative 5.0% in the year-earlier period.

Total revenue declined 49.8% on an annual basis to ¥6.05 billion from ¥12.07 billion, and total operating expenses decreased 53.9% from the prior-year period to ¥5.97 billion from ¥12.95 billion.

Reported net income came to a loss of ¥72.0 million, or a loss of ¥2.42 per share, compared to a loss of ¥1.55 billion, or a loss of ¥61.51 per share, in the year-earlier period.

As of March 28, US$1 was equivalent to ¥113.26.