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Corona fiscal Q4 loss widens 17.9% YOY

Corona Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥25.87 per share, compared with a loss of ¥21.94 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 ¥758.8 million, compared with a loss of ¥643.6 million in the year-earlier period.

The normalized profit margin fell to negative 5.5% from negative 4.1% in the year-earlier period.

Total revenue declined 13.6% year over year to ¥13.72 billion from ¥15.88 billion, and total operating expenses declined 11.8% year over year to ¥15.05 billion from ¥17.06 billion.

Reported net income came to a loss of ¥854.0 million, or a loss of ¥29.11 per share, compared to a loss of ¥717.0 million, or a loss of ¥24.44 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥34.07 per share, a decline of 47.0% from ¥64.27 per share in the prior year.

Normalized net income was ¥999.4 million, a decrease of 47.0% from ¥1.89 billion in the prior year.

Full-year total revenue decreased 6.9% on an annual basis to ¥74.90 billion from ¥80.48 billion, and total operating expenses fell 5.3% on an annual basis to ¥73.80 billion from ¥77.95 billion.

The company said reported net income decreased 43.9% year over year to ¥1.04 billion, or ¥35.35 per share, in the full year, from ¥1.85 billion, or ¥63.07 per share.

As of June 26, US$1 was equivalent to ¥123.96.