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Fields fiscal Q1 loss narrows YOY

Fields Corp. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥42.28 per share, compared with a loss of ¥69.50 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 ¥1.40 billion, compared with a loss of ¥2.31 billion in the prior-year period.

The normalized profit margin climbed to negative 18.8% from negative 40.1% in the year-earlier period.

Total revenue climbed 29.8% on an annual basis to ¥7.46 billion from ¥5.75 billion, and total operating expenses grew year over year to ¥10.01 billion from ¥9.66 billion.

Reported net income came to a loss of ¥1.50 billion, or a loss of ¥45.26 per share, compared to a loss of ¥2.29 billion, or a loss of ¥69.01 per share, in the year-earlier period.

As of Aug. 8, US$1 was equivalent to ¥101.85.