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CSMEN Co. fiscal Q2 loss widens YOY

CSMEN Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 came to a loss of ¥20.6 million, compared with a loss of ¥8.8 million in the prior-year period.

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

The normalized profit margin dropped to negative 1.2% from negative 0.5% in the year-earlier period.

Total revenue decreased on an annual basis to ¥1.68 billion from ¥1.70 billion, and total operating expenses totaled ¥1.71 billion, compared with ¥1.71 billion in the prior-year period.

Reported net income came to a loss of ¥29.0 million, or a loss of ¥36.73 per share, compared to a loss of ¥33.0 million in the year-earlier period.

As of Oct. 9, US$1 was equivalent to ¥107.90.