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Sagami fiscal Q3 loss widens 46.0% YOY

Sagami Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 20, 2014, was a loss of ¥10.55 per share, compared with a loss of ¥7.23 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 ¥418.8 million, compared with a loss of ¥286.9 million in the year-earlier period.

The normalized profit margin declined to negative 9.1% from negative 5.5% in the year-earlier period.

Total revenue fell 11.3% year over year to ¥4.62 billion from ¥5.21 billion, and total operating expenses decreased 6.7% on an annual basis to ¥5.29 billion from ¥5.67 billion.

Reported net income totaled a loss of ¥831.0 million, or a loss of ¥20.95 per share, compared to a loss of ¥526.0 million, or a loss of ¥13.25 per share, in the year-earlier period.

As of Jan. 5, US$1 was equivalent to ¥119.60.