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Daidoh fiscal Q1 loss widens 82.0% YOY

Daidoh Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥2.68 per share, compared with a loss of ¥1.47 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 ¥90.8 million, compared with a loss of ¥49.9 million in the prior-year period.

The normalized profit margin dropped to negative 1.7% from negative 0.8% in the year-earlier period.

Total revenue declined 11.9% year over year to ¥5.46 billion from ¥6.20 billion, and total operating expenses fell 10.5% year over year to ¥5.75 billion from ¥6.43 billion.

Reported net income came to a loss of ¥220.0 million, or a loss of ¥6.50 per share, compared to a loss of ¥154.0 million, or a loss of ¥4.54 per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to ¥101.85.