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Marumitsu fiscal Q4 loss narrows YOY

Marumitsu Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 20 came to a loss of ¥7.38 per share, compared with a loss of ¥9.71 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 ¥143.8 million, compared with a loss of ¥161.3 million in the prior-year period.

The normalized profit margin declined to negative 5.5% from negative 5.1% in the year-earlier period.

Total revenue declined 17.9% on an annual basis to ¥2.61 billion from ¥3.17 billion, and total operating expenses fell 17.2% from the prior-year period to ¥2.81 billion from ¥3.39 billion.

Reported net income came to a loss of ¥232.0 million, or a loss of ¥11.91 per share, compared to a loss of ¥632.0 million, or a loss of ¥38.05 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥8.64 per share, compared with a loss of ¥7.08 per share in the prior year.

Normalized net income was a loss of ¥158.8 million, compared with a loss of ¥116.9 million in the prior year.

Full-year total revenue declined 19.3% on an annual basis to ¥13.64 billion from ¥16.90 billion, and total operating expenses fell 18.8% on an annual basis to ¥13.76 billion from ¥16.94 billion.

The company said reported net income totaled a loss of ¥228.0 million, or a loss of ¥12.40 per share, in the full year, compared with a loss of ¥576.0 million, or a loss of ¥34.89 per share, the prior year.

As of June 15, US$1 was equivalent to ¥123.50.