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Royal Hotel fiscal Q2 loss narrows YOY

The Royal Hotel, Ltd said its normalized net income for the fiscal second quarter ended Sept. 30 was a loss of ¥30.81 per share, compared with a loss of ¥37.64 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 ¥315.6 million, compared with a loss of ¥385.6 million in the year-earlier period.

The normalized profit margin rose to negative 3.2% from negative 3.9% in the year-earlier period.

Total revenue totaled ¥9.99 billion, compared with ¥9.95 billion in the prior-year period, and total operating expenses totaled ¥10.41 billion, compared with ¥10.46 billion in the prior-year period.

Reported net income totaled a loss of ¥525.0 million, or a loss of ¥51.24 per share, compared to a loss of ¥630.1 million, or a loss of ¥61.49 per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to ¥116.46.