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Kitamura fiscal Q4 loss narrows YOY

Kitamura Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥38.76 per share, compared with a loss of ¥41.68 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 ¥693.5 million, compared with a loss of ¥745.5 million in the prior-year period.

The normalized profit margin climbed to negative 1.8% from negative 1.8% in the year-earlier period.

Total revenue fell 5.8% year over year to ¥38.84 billion from ¥41.23 billion, and total operating expenses declined 5.7% on an annual basis to ¥40.04 billion from ¥42.45 billion.

Reported net income totaled a loss of ¥1.28 billion, or a loss of ¥71.31 per share, compared to a loss of ¥1.28 billion, or a loss of ¥71.50 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥65.92 per share, a decline of 30.8% from ¥95.21 per share in the prior year.

Normalized net income was ¥1.18 billion, a fall of 29.1% from ¥1.66 billion in the prior year.

Full-year total revenue amounted to ¥153.17 billion, compared with ¥152.08 billion in the prior year, and total operating expenses increased on an annual basis to ¥151.53 billion from ¥149.54 billion.

The company said reported net income fell 59.1% year over year to ¥449.0 million, or ¥25.09 per share, in the full year, from ¥1.10 billion, or ¥62.79 per share.

As of June 24, US$1 was equivalent to ¥124.31.