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Soko Seiren fiscal Q1 loss widens YOY

Soko Seiren Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥9.04 per share, compared with a loss of ¥1.49 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 ¥64.4 million, compared with a loss of ¥10.6 million in the year-earlier period.

The normalized profit margin fell to negative 7.3% from negative 0.9% in the year-earlier period.

Total revenue fell 24.9% on an annual basis to ¥877.0 million from ¥1.17 billion, and total operating expenses fell 18.2% on an annual basis to ¥999.0 million from ¥1.22 billion.

Reported net income totaled a loss of ¥37.0 million, or a loss of ¥5.19 per share, compared to a loss of ¥24.0 million, or a loss of ¥3.37 per share, in the prior-year period.

As of Aug. 13, US$1 was equivalent to ¥102.37.