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Kachikaihatsu fiscal Q1 loss narrows YOY

Kachikaihatsu Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥3.99 per share, compared with a loss of ¥5.34 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 ¥53.1 million, compared with a loss of ¥61.9 million in the prior-year period.

The normalized profit margin rose to negative 4.4% from negative 4.5% in the year-earlier period.

Total revenue decreased 13.5% on an annual basis to ¥1.20 billion from ¥1.39 billion, and total operating expenses decreased 11.5% on an annual basis to ¥1.28 billion from ¥1.45 billion.

Reported net income came to a loss of ¥93.0 million, or a loss of ¥6.98 per share, compared to a loss of ¥101.0 million, or a loss of ¥8.71 per share, in the prior-year period.

As of Aug. 11, US$1 was equivalent to ¥102.12.