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Kabushiki Kaisha Seiyoken swings to loss in fiscal Q1

Kabushiki Kaisha Seiyoken said its normalized net income for the fiscal first quarter ended April 30 came to a loss of ¥4.81 per share, compared with ¥1.68 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 ¥12.5 million, compared with income of ¥4.4 million in the year-earlier period.

The normalized profit margin dropped to negative 1.7% from 0.6% in the year-earlier period.

Total revenue declined on an annual basis to ¥739.0 million from ¥776.0 million, and total operating expenses totaled ¥763.0 million, compared with ¥769.0 million in the prior-year period.

Reported net income came to a loss of ¥19.0 million, or a loss of ¥7.31 per share, compared to income of ¥4.0 million, or ¥1.54 per share, in the prior-year period.

As of June 13, US$1 was equivalent to ¥102.08.