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Kanro Q2 loss widens YOY

Kanro Co. Ltd. said its second-quarter normalized net income came to a loss of ¥34.31 per share, compared with a loss of ¥17.07 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 ¥124.4 million, compared with a loss of ¥61.9 million in the prior-year period.

The normalized profit margin dropped to negative 2.6% from negative 1.3% in the year-earlier period.

Total revenue climbed year over year to ¥4.76 billion from ¥4.64 billion, and total operating expenses climbed on an annual basis to ¥4.95 billion from ¥4.75 billion.

Reported net income came to a loss of ¥217.0 million, or a loss of ¥59.86 per share, compared to a loss of ¥336.0 million, or a loss of ¥92.67 per share, in the year-earlier period.

As of Aug. 11, US$1 was equivalent to ¥124.86.