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Goyo Foods Industry fiscal Q1 loss narrows YOY

Goyo Foods Industry Co. Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 came to a loss of ¥12.51 per share, compared with a loss of ¥15.80 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 ¥11.9 million, compared with a loss of ¥15.0 million in the prior-year period.

The normalized profit margin climbed to negative 4.3% from negative 4.9% in the year-earlier period.

Total revenue declined 9.0% on an annual basis to ¥277.0 million from ¥304.5 million, and total operating expenses declined 9.7% year over year to ¥289.0 million from ¥320.0 million.

Reported net income totaled a loss of ¥21.0 million, or a loss of ¥22.12 per share, compared to a loss of ¥22.5 million, or a loss of ¥23.70 per share, in the prior-year period.

As of Oct. 14, US$1 was equivalent to ¥107.05.