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Marudai Food fiscal Q4 loss widens 23.0% YOY

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Marudai Food fiscal Q4 loss widens 23.0% YOY

Marudai Food Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥4.30 per share, compared with a loss of ¥3.51 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 ¥561.1 million, compared with a loss of ¥456.4 million in the year-earlier period.

The normalized profit margin fell to negative 1.1% from negative 0.9% in the year-earlier period.

Total revenue grew year over year to ¥49.27 billion from ¥48.29 billion, and total operating expenses increased from the prior-year period to ¥50.22 billion from ¥49.09 billion.

Reported net income came to a loss of ¥264.0 million, or a loss of ¥2.02 per share, compared to a loss of ¥413.0 million, or a loss of ¥3.18 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥13.03 per share, a fall of 9.8% from ¥14.44 per share in the prior year.

Normalized net income was ¥1.69 billion, a decline of 9.7% from ¥1.88 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥222.32 billion from ¥213.68 billion, and total operating expenses rose year over year to ¥219.59 billion from ¥210.82 billion.

The company said reported net income rose on an annual basis to ¥1.80 billion, or ¥13.88 per share, in the full year, from ¥1.73 billion, or ¥13.29 per share.

As of June 29, US$1 was equivalent to ¥122.67.