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Kabushiki Kaisha Seiyoken fiscal Q3 loss widens 31.6% YOY

Kabushiki Kaisha Seiyoken said its normalized net income for the fiscal third quarter ended Oct. 31 amounted to a loss of ¥24.03 per share, compared with a loss of ¥18.26 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 ¥62.5 million, compared with a loss of ¥47.5 million in the prior-year period.

The normalized profit margin dropped to negative 11.0% from negative 7.0% in the year-earlier period.

Total revenue fell 16.0% year over year to ¥569.0 million from ¥677.0 million, and total operating expenses fell 11.0% from the prior-year period to ¥673.0 million from ¥756.0 million.

Reported net income totaled a loss of ¥104.0 million, or a loss of ¥39.99 per share, compared to a loss of ¥81.0 million, or a loss of ¥31.14 per share, in the year-earlier period.

As of Dec. 12, US$1 was equivalent to ¥118.57.