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Asahimatsu Foods fiscal Q1 loss widens YOY

Asahimatsu Foods Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥7.44 per share, compared with a loss of ¥2.18 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 ¥68.1 million, compared with a loss of ¥20.0 million in the year-earlier period.

The normalized profit margin dropped to negative 3.2% from negative 0.9% in the year-earlier period.

Total revenue fell 7.1% on an annual basis to ¥2.14 billion from ¥2.30 billion, and total operating expenses declined on an annual basis to ¥2.26 billion from ¥2.34 billion.

Reported net income came to a loss of ¥116.0 million, or a loss of ¥12.67 per share, compared to a loss of ¥36.0 million, or a loss of ¥3.93 per share, in the prior-year period.

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