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Sanyei swings to loss in fiscal Q1

Sanyei Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥25.57 per share, compared with ¥7.99 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 ¥60.0 million, compared with income of ¥19.3 million in the prior-year period.

The normalized profit margin declined to negative 0.6% from 0.2% in the year-earlier period.

Total revenue rose 5.6% on an annual basis to ¥9.46 billion from ¥8.97 billion, and total operating expenses climbed 6.7% from the prior-year period to ¥9.57 billion from ¥8.97 billion.

Reported net income totaled a loss of ¥90.0 million, or a loss of ¥38.35 per share, compared to income of ¥301.0 million, or ¥124.90 per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to ¥102.44.