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Tachi-S swings to loss in fiscal Q3

Tachi-S Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to a loss of ¥4.98 per share, compared with ¥14.19 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 ¥181.4 million, compared with income of ¥517.3 million in the prior-year period.

The normalized profit margin dropped to negative 0.3% from 0.9% in the year-earlier period.

Total revenue grew 10.6% year over year to ¥60.59 billion from ¥54.80 billion, and total operating expenses increased 11.9% from the prior-year period to ¥60.99 billion from ¥54.51 billion.

Reported net income came to a loss of ¥1.10 billion, or a loss of ¥30.22 per share, compared to income of ¥596.0 million, or ¥16.36 per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to ¥118.90.