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Sadamatsu fiscal Q1 loss widens 23.7% YOY

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Sadamatsu fiscal Q1 loss widens 23.7% YOY

Sadamatsu Co. Ltd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, came to a loss of ¥95.55 per share, compared with a loss of ¥77.21 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 ¥107.5 million, compared with a loss of ¥86.9 million in the year-earlier period.

The normalized profit margin declined to negative 6.0% from negative 5.2% in the year-earlier period.

Total revenue grew 8.3% year over year to ¥1.80 billion from ¥1.67 billion, and total operating expenses climbed 9.9% on an annual basis to ¥1.98 billion from ¥1.80 billion.

Reported net income came to a loss of ¥123.0 million, or a loss of ¥109.32 per share, compared to a loss of ¥104.0 million, or a loss of ¥92.43 per share, in the year-earlier period.

As of Jan. 14, US$1 was equivalent to ¥116.84.