Higashi Nihon House Co. Ltd. said its normalized net income for the fiscal first quarter ended Jan. 31 amounted to a loss of ¥10.34 per share, compared with a loss of 66 sen 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 ¥474.4 million, compared with a loss of ¥30.3 million in the year-earlier period.
The normalized profit margin fell to negative 5.8% from negative 0.3% in the year-earlier period.
Total revenue declined 24.4% on an annual basis to ¥8.22 billion from ¥10.87 billion, and total operating expenses fell 17.9% on an annual basis to ¥8.88 billion from ¥10.82 billion.
Reported net income totaled a loss of ¥794.0 million, or a loss of ¥17.31 per share, compared to a loss of ¥79.0 million, or a loss of ¥1.72 per share, in the prior-year period.
As of March 13, US$1 was equivalent to ¥121.18.
