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Watabe Wedding fiscal Q4 loss widens YOY

Watabe Wedding Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥35.74 per share, compared with a loss of ¥2.79 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 ¥354.1 million, compared with a loss of ¥27.6 million in the prior-year period.

The normalized profit margin dropped to negative 3.5% from negative 0.2% in the year-earlier period.

Total revenue decreased 11.1% year over year to ¥10.15 billion from ¥11.41 billion, and total operating expenses declined 7.0% on an annual basis to ¥10.72 billion from ¥11.54 billion.

Reported net income totaled a loss of ¥1.32 billion, or a loss of ¥133.11 per share, compared to a loss of ¥2.87 billion, or a loss of ¥289.43 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥27.00 per share, compared with a loss of ¥46.70 per share in the prior year.

Normalized net income was a loss of ¥267.5 million, compared with a loss of ¥462.8 million in the prior year.

Full-year total revenue decreased 7.3% from the prior-year period to ¥44.21 billion from ¥47.71 billion, and total operating expenses decreased 7.4% on an annual basis to ¥44.91 billion from ¥48.47 billion.

The company said reported net income totaled a loss of ¥1.80 billion, or a loss of ¥182.16 per share, in the full year, compared with a loss of ¥3.52 billion, or a loss of ¥355.63 per share, the prior year.

As of June 29, US$1 was equivalent to ¥122.67.