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TSI Holdings fiscal Q4 loss narrows YOY

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TSI Holdings fiscal Q4 loss narrows YOY

TSI Holdings Co.Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 29 amounted to a loss of ¥2.48 per share, compared with a loss of ¥6.59 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 ¥278.6 million, compared with a loss of ¥706.1 million in the prior-year period.

The normalized profit margin climbed to negative 0.7% from negative 1.5% in the year-earlier period.

Total revenue decreased 13.2% on an annual basis to ¥41.81 billion from ¥48.18 billion, and total operating expenses decreased 14.3% on an annual basis to ¥42.30 billion from ¥49.38 billion.

Reported net income came to a loss of ¥392.9 million, or a loss of ¥3.50 per share, compared to income of ¥1.55 billion, or ¥14.44 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥13.66 per share, an increase of 13.6% from ¥12.02 per share in the prior year.

Normalized net income was ¥1.52 billion, an increase of 17.6% from ¥1.29 billion in the prior year.

Full-year total revenue fell 7.5% on an annual basis to ¥167.21 billion from ¥180.82 billion, and total operating expenses declined 7.7% year over year to ¥166.13 billion from ¥179.98 billion.

The company said reported net income decreased 39.4% year over year to ¥1.39 billion, or ¥12.49 per share, in the full year, from ¥2.29 billion, or ¥21.33 per share.

As of May 27, US$1 was equivalent to ¥109.87.