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Wood Friends fiscal Q3 loss widens 49.9% YOY

Wood Friends Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 28 was a loss of ¥56.57 per share, compared with a loss of ¥37.74 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 ¥83.0 million, compared with a loss of ¥55.4 million in the prior-year period.

The normalized profit margin declined to negative 1.5% from negative 0.9% in the year-earlier period.

Total revenue fell 7.1% on an annual basis to ¥5.69 billion from ¥6.13 billion, and total operating expenses declined 5.9% year over year to ¥5.76 billion from ¥6.12 billion.

Reported net income totaled a loss of ¥90.0 million, or a loss of ¥61.34 per share, compared to a loss of ¥68.0 million, or a loss of ¥46.35 per share, in the prior-year period.

As of April 10, US$1 was equivalent to ¥120.22.