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CSMEN Co. fiscal Q2 loss widens YOY

CSMEN Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 was a loss of ¥53.03 per share, compared with a loss of ¥26.12 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 ¥41.9 million, compared with a loss of ¥20.6 million in the prior-year period.

The normalized profit margin fell to negative 2.7% from negative 1.2% in the year-earlier period.

Total revenue declined 9.1% year over year to ¥1.52 billion from ¥1.68 billion, and total operating expenses declined 7.0% on an annual basis to ¥1.59 billion from ¥1.71 billion.

Reported net income came to a loss of ¥46.0 million, or a loss of ¥58.26 per share, compared to a loss of ¥29.0 million, or a loss of ¥36.73 per share, in the year-earlier period.

As of Oct. 14, US$1 was equivalent to ¥119.23.