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Akikawa Foods & Farms fiscal Q2 loss narrows YOY

Akikawa Foods & Farms Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 90 Japanese sen per share, compared with a loss of ¥2.70 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 ¥3.8 million, compared with a loss of ¥11.3 million in the year-earlier period.

The normalized profit margin increased to negative 0.3% from negative 1.0% in the year-earlier period.

Total revenue rose 5.2% on an annual basis to ¥1.20 billion from ¥1.14 billion, and total operating expenses grew year over year to ¥1.20 billion from ¥1.15 billion.

Reported net income totaled a loss of ¥13.0 million, or a loss of ¥3.12 per share, compared to a loss of ¥20.0 million, or a loss of ¥4.80 per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to ¥122.92.