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Fancl swings to loss in fiscal Q1

Fancl Corp. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥5.20 per share, compared with ¥4.61 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 ¥330.6 million, compared with income of ¥300.0 million in the year-earlier period.

The normalized profit margin fell to negative 1.9% from 1.5% in the year-earlier period.

Total revenue declined 11.2% year over year to ¥17.86 billion from ¥20.11 billion, and total operating expenses fell 6.6% on an annual basis to ¥18.45 billion from ¥19.75 billion.

Reported net income totaled a loss of ¥302.0 million, or a loss of ¥4.75 per share, compared to income of ¥237.3 million, or ¥3.65 per share, in the year-earlier period.

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