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Ishigaki Foods fiscal Q4 loss widens 40.0% YOY

Ishigaki Foods Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥5.16 per share, compared with a loss of ¥3.69 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 ¥17.5 million, compared with a loss of ¥12.5 million in the prior-year period.

The normalized profit margin fell to negative 17.7% from negative 11.4% in the year-earlier period.

Total revenue decreased 10.0% year over year to ¥99.0 million from ¥110.0 million, and total operating expenses totaled ¥127.0 million, compared with ¥128.0 million in the prior-year period.

Reported net income came to a loss of ¥28.0 million, or a loss of ¥8.26 per share, compared to a loss of ¥18.0 million, or a loss of ¥5.31 per share, in the prior-year period.

For the year, the company's normalized net income totaled a loss of ¥13.65 per share, compared with a loss of ¥14.20 per share in the prior year.

Normalized net income was a loss of ¥46.3 million, compared with a loss of ¥48.1 million in the prior year.

Full-year total revenue decreased 13.5% year over year to ¥520.0 million from ¥601.0 million, and total operating expenses decreased 11.9% on an annual basis to ¥594.0 million from ¥674.0 million.

The company said reported net income totaled a loss of ¥74.0 million, or a loss of ¥21.84 per share, in the full year, compared with a loss of ¥68.0 million, or a loss of ¥20.07 per share, the prior year.

As of June 26, US$1 was equivalent to ¥123.96.