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Fujita swings to profit in fiscal Q1

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Fujita swings to profit in fiscal Q1

Fujita Corp. Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to ¥10.51 per share, compared with a loss of ¥14.72 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.4 million, compared with a loss of ¥13.1 million in the year-earlier period.

The normalized profit margin climbed to 0.7% from negative 0.8% in the year-earlier period.

Total revenue decreased 9.8% year over year to ¥1.44 billion from ¥1.60 billion, and total operating expenses fell 11.4% from the prior-year period to ¥1.41 billion from ¥1.59 billion.

Reported net income totaled a loss of ¥20.0 million, or a loss of ¥22.43 per share, compared to a loss of ¥23.0 million, or a loss of ¥25.80 per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to ¥102.12.