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Asahimatsu Foods fiscal Q4 loss narrows YOY

Asahimatsu Foods Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥6.22 per share, compared with a loss of ¥9.42 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 ¥56.9 million, compared with a loss of ¥86.3 million in the prior-year period.

The normalized profit margin rose to negative 2.6% from negative 3.7% in the year-earlier period.

Total revenue declined 5.1% on an annual basis to ¥2.23 billion from ¥2.35 billion, and total operating expenses decreased 7.0% year over year to ¥2.32 billion from ¥2.49 billion.

Reported net income totaled a loss of ¥16.0 million, or a loss of ¥1.75 per share, compared to a loss of ¥919.0 million, or a loss of ¥100.35 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥17.14 per share, compared with a loss of ¥16.01 per share in the prior year.

Normalized net income was a loss of ¥156.9 million, compared with a loss of ¥146.6 million in the prior year.

Full-year total revenue fell 7.1% year over year to ¥9.37 billion from ¥10.09 billion, and total operating expenses decreased 6.9% on an annual basis to ¥9.64 billion from ¥10.35 billion.

The company said reported net income came to a loss of ¥212.0 million, or a loss of ¥23.16 per share, in the full year, compared with a loss of ¥1.03 billion, or a loss of ¥112.14 per share, the prior year.

As of June 29, US$1 was equivalent to ¥122.67.