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Nagahori swings to loss in fiscal Q2

Nagahori Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 came to a loss of 8 Japanese sen per share, compared with ¥5.30 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 ¥1.3 million, compared with income of ¥81.3 million in the prior-year period.

The normalized profit margin dropped to negative 0.0% from 1.6% in the year-earlier period.

Total revenue declined year over year to ¥4.92 billion from ¥5.13 billion, and total operating expenses declined on an annual basis to ¥4.92 billion from ¥4.98 billion.

Reported net income increased 42.3% on an annual basis to ¥74.0 million, or ¥4.83 per share, from ¥52.0 million, or ¥3.39 per share.

As of Nov. 14, US$1 was equivalent to ¥116.46.