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Otsuka Kagu H2 loss narrows YOY

Otsuka Kagu Ltd. said its second-half normalized net income was a loss of 47 Japanese sen per share, compared with a loss of ¥37.54 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 ¥8.8 million, compared with a loss of ¥695.8 million in the prior-year period.

Total revenue rose 8.6% year over year to ¥27.85 billion from ¥25.64 billion, and total operating expenses grew on an annual basis to ¥27.91 billion from ¥26.79 billion.

Reported net income came to ¥38,000, or 0 sen per share, compared to a loss of ¥269.2 million, or a loss of ¥14.52 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥20.13 per share, compared with a loss of ¥8.14 per share in the prior year.

Normalized net income was ¥373.2 million, compared with a loss of ¥150.9 million in the prior year.

Full-year total revenue increased year over year to ¥58.00 billion from ¥55.50 billion, and total operating expenses increased year over year to ¥57.57 billion from ¥55.90 billion.

The company said reported net income decreased 24.1% on an annual basis to ¥359.3 million, or ¥19.38 per share, in the full year, from ¥473.3 million, or ¥25.53 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.