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TAC Co. Ltd. fiscal Q4 loss widens 7.0% YOY

TAC Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥7.43 per share, compared with a loss of ¥6.98 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 ¥137.5 million, compared with a loss of ¥128.5 million in the year-earlier period.

The normalized profit margin dropped to negative 2.9% from negative 2.6% in the year-earlier period.

Total revenue decreased year over year to ¥4.78 billion from ¥4.96 billion, and total operating expenses declined on an annual basis to ¥5.00 billion from ¥5.17 billion.

Reported net income totaled a loss of ¥156.0 million, or a loss of ¥8.43 per share, compared to a loss of ¥118.0 million, or a loss of ¥6.41 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥1.91 per share, a fall of 94.4% from ¥34.30 per share in the prior year.

Normalized net income was ¥35.3 million, a decrease of 94.4% from ¥627.0 million in the prior year.

Full-year total revenue fell from the prior-year period to ¥19.54 billion from ¥20.53 billion, and total operating expenses came to ¥19.40 billion, compared with ¥19.49 billion in the year-earlier period.

The company said reported net income decreased 74.5% year over year to ¥208.0 million, or ¥11.24 per share, in the full year, from ¥816.0 million, or ¥44.64 per share.

As of June 25, US$1 was equivalent to ¥123.71.