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TETSUJIN fiscal Q1 loss narrows YOY

TETSUJIN Inc. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, came to a loss of ¥8.05 per share, compared with a loss of ¥23.65 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 ¥50.0 million, compared with a loss of ¥146.9 million in the prior-year period.

The normalized profit margin rose to negative 2.2% from negative 6.4% in the year-earlier period.

Total revenue came to ¥2.28 billion, compared with ¥2.29 billion in the prior-year period, and total operating expenses decreased 5.0% from the prior-year period to ¥2.38 billion from ¥2.50 billion.

Reported net income totaled a loss of ¥71.0 million, or a loss of ¥11.43 per share, compared to a loss of ¥179.0 million, or a loss of ¥28.82 per share, in the year-earlier period.

As of Jan. 14, US$1 was equivalent to ¥116.84.