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Marumitsu fiscal Q4 loss widens YOY

Marumitsu Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 20 was a loss of ¥7.14 per share, compared with a loss of ¥7.38 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 ¥146.3 million, compared with a loss of ¥143.8 million in the prior-year period.

The normalized profit margin fell to negative 6.4% from negative 5.5% in the year-earlier period.

Total revenue fell 12.2% on an annual basis to ¥2.29 billion from ¥2.61 billion, and total operating expenses decreased 11.5% year over year to ¥2.48 billion from ¥2.81 billion.

Reported net income came to a loss of ¥235.0 million, or a loss of ¥11.48 per share, compared to a loss of ¥232.0 million, or a loss of ¥11.91 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥14.17 per share, compared with a loss of ¥8.64 per share in the prior year.

Normalized net income was a loss of ¥287.5 million, compared with a loss of ¥158.8 million in the prior year.

Full-year total revenue decreased 14.0% from the prior-year period to ¥11.73 billion from ¥13.64 billion, and total operating expenses declined 12.4% year over year to ¥12.05 billion from ¥13.76 billion.

The company said reported net income totaled a loss of ¥466.0 million, or a loss of ¥22.97 per share, in the full year, compared with a loss of ¥228.0 million, or a loss of ¥12.40 per share, the prior year.

As of June 16, US$1 was equivalent to ¥103.98.