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Renown fiscal Q2 loss narrows YOY

Renown Inc. said its normalized net income for the fiscal second quarter ended Aug. 31 came to a loss of ¥15.07 per share, compared with a loss of ¥21.75 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 ¥1.52 billion, compared with a loss of ¥1.76 billion in the year-earlier period.

The normalized profit margin climbed to negative 9.7% from negative 10.8% in the year-earlier period.

Total revenue decreased year over year to ¥15.65 billion from ¥16.21 billion, and total operating expenses decreased 5.1% year over year to ¥18.17 billion from ¥19.14 billion.

Reported net income came to a loss of ¥2.48 billion, or a loss of ¥24.47 per share, compared to a loss of ¥2.91 billion, or a loss of ¥36.01 per share, in the prior-year period.

As of Oct. 15, US$1 was equivalent to ¥106.21.