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Tokyo Ichiban Foods fiscal Q3 loss widens 88.8% YOY

Tokyo Ichiban Foods Co. Ltd. said its normalized net income for the fiscal third quarter ended June 30 came to a loss of ¥12.26 per share, compared with a loss of ¥6.50 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥105.0 million, compared with a loss of ¥55.6 million in the prior-year period.

The normalized profit margin dropped to negative 18.0% from negative 9.4% in the year-earlier period.

Total revenue declined on an annual basis to ¥584.0 million from ¥594.0 million, and total operating expenses increased 10.9% from the prior-year period to ¥762.0 million from ¥687.0 million.

Reported net income came to a loss of ¥88.2 million, or a loss of ¥10.28 per share, compared to a loss of ¥39.6 million, or a loss of ¥4.68 per share, in the prior-year period.

As of Aug. 7, US$1 was equivalent to ¥124.28.