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Soko Seiren fiscal Q2 loss widens 52.1% YOY

Soko Seiren Co.Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of ¥9.48 per share, compared with a loss of ¥6.23 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 ¥67.5 million, compared with a loss of ¥44.4 million in the prior-year period.

The normalized profit margin fell to negative 8.4% from negative 5.0% in the year-earlier period.

Total revenue decreased 10.3% on an annual basis to ¥800.0 million from ¥892.0 million, and total operating expenses declined 13.3% from the prior-year period to ¥870.0 million from ¥1.00 billion.

Reported net income totaled a loss of ¥113.0 million, or a loss of ¥15.87 per share, compared to a loss of ¥330.0 million, or a loss of ¥46.33 per share, in the year-earlier period.

As of Nov. 13, US$1 was equivalent to ¥122.78.