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Kuze posts fiscal Q1 loss

Kuze Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥86.9 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 0.5%.

Total revenue increased 9.5% year over year to ¥16.37 billion from ¥14.95 billion, and total operating expenses increased 10.3% from the prior-year period to ¥16.55 billion from ¥15.00 billion.

Reported net income came to a loss of ¥102.0 million, or a loss of ¥26.30 per share, compared to a loss of ¥18.0 million, or a loss of ¥4.64 per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to ¥102.12.