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Soko Seiren fiscal Q4 loss narrows YOY

Soko Seiren Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥4.92 per share, compared with a loss of ¥44.67 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 ¥35.0 million, compared with a loss of ¥318.4 million in the year-earlier period.

The normalized profit margin rose to negative 3.8% from negative 41.1% in the year-earlier period.

Total revenue grew 20.3% year over year to ¥931.0 million from ¥774.0 million, and total operating expenses decreased 12.9% on an annual basis to ¥901.0 million from ¥1.03 billion.

Reported net income totaled a loss of ¥54.0 million, or a loss of ¥7.58 per share, compared to income of ¥1.61 billion, or ¥226.60 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥36.56 per share, compared with a loss of ¥75.54 per share in the prior year.

Normalized net income was a loss of ¥260.4 million, compared with a loss of ¥538.1 million in the prior year.

Full-year total revenue increased on an annual basis to ¥3.45 billion from ¥3.34 billion, and total operating expenses fell 10.5% on an annual basis to ¥3.61 billion from ¥4.03 billion.

The company said reported net income totaled a loss of ¥431.0 million, or a loss of ¥60.53 per share, in the full year, compared with income of ¥1.07 billion, or ¥149.64 per share, the prior year.

As of June 29, US$1 was equivalent to ¥102.64.