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Kuze swings to loss in fiscal Q4

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Kuze swings to loss in fiscal Q4

Kuze Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥12.89 per share, compared with ¥2.42 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 ¥50.0 million, compared with income of ¥9.4 million in the prior-year period.

The normalized profit margin dropped to negative 0.3% from 0.1% in the year-earlier period.

Total revenue increased 6.4% year over year to ¥16.08 billion from ¥15.10 billion, and total operating expenses increased 7.0% year over year to ¥16.19 billion from ¥15.14 billion.

Reported net income totaled a loss of ¥309.0 million, or a loss of ¥79.66 per share, compared to a loss of ¥11.0 million, or a loss of ¥2.84 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥32.22 per share, compared with ¥38.51 per share in the prior year.

Normalized net income was a loss of ¥125.0 million, compared with income of ¥149.4 million in the prior year.

Full-year total revenue increased 9.3% from the prior-year period to ¥68.04 billion from ¥62.27 billion, and total operating expenses increased 9.9% on an annual basis to ¥68.41 billion from ¥62.23 billion.

The company said reported net income came to a loss of ¥412.0 million, or a loss of ¥106.21 per share, in the full year, compared with income of ¥100.0 million, or ¥25.78 per share, the prior year.

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