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Happiness & D fiscal Q1 loss widens 23.7% YOY

Happiness & D Co. Ltd. said its normalized net income for the fiscal first quarter ended Nov. 30, 2014, came to a loss of ¥28.41 per share, compared with a loss of ¥22.97 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 ¥71.9 million, compared with a loss of ¥58.1 million in the year-earlier period.

The normalized profit margin declined to negative 2.0% from negative 1.7% in the year-earlier period.

Total revenue grew year over year to ¥3.54 billion from ¥3.45 billion, and total operating expenses climbed year over year to ¥3.64 billion from ¥3.54 billion.

Reported net income totaled a loss of ¥82.0 million, or a loss of ¥32.41 per share, compared to a loss of ¥67.0 million, or a loss of ¥26.48 per share, in the year-earlier period.

As of Jan. 14, US$1 was equivalent to ¥116.84.