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Soko Seiren fiscal Q4 loss widens YOY

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Soko Seiren fiscal Q4 loss widens YOY

Soko Seiren Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥44.67 per share, compared with a loss of ¥12.76 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 ¥318.4 million, compared with a loss of ¥90.9 million in the year-earlier period.

The normalized profit margin dropped to negative 41.1% from negative 9.4% in the year-earlier period.

Total revenue declined 20.0% year over year to ¥774.0 million from ¥968.0 million, and total operating expenses declined 7.3% year over year to ¥1.03 billion from ¥1.12 billion.

Reported net income totaled ¥1.61 billion, or ¥226.60 per share, compared to a loss of ¥596.0 million, or a loss of ¥83.70 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥75.54 per share, compared with a loss of ¥14.04 per share in the prior year.

Normalized net income was a loss of ¥538.1 million, compared with a loss of ¥100.0 million in the prior year.

Full-year total revenue fell 23.5% year over year to ¥3.34 billion from ¥4.37 billion, and total operating expenses fell 13.1% on an annual basis to ¥4.03 billion from ¥4.63 billion.

The company said reported net income totaled ¥1.07 billion, or ¥149.64 per share, in the full year, compared with a loss of ¥857.0 million, or a loss of ¥120.30 per share, the prior year.

As of June 29, US$1 was equivalent to ¥122.67.