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Haruyama Holdings swings to loss in fiscal Q1

Haruyama Holdings Inc. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥8.16 per share, compared with ¥3.76 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 ¥132.5 million, compared with income of ¥61.3 million in the prior-year period.

The normalized profit margin dropped to negative 1.2% from 0.5% in the year-earlier period.

Total revenue decreased 10.0% on an annual basis to ¥11.36 billion from ¥12.62 billion, and total operating expenses decreased 7.9% on an annual basis to ¥11.59 billion from ¥12.59 billion.

Reported net income totaled a loss of ¥105.0 million, or a loss of ¥6.47 per share, compared to income of ¥12.0 million, or 74 sen per share, in the year-earlier period.

As of Aug. 8, US$1 was equivalent to ¥101.85.