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Sanyo Homes fiscal Q1 loss narrows YOY

Sanyo Homes Corp. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥26.89 per share, compared with a loss of ¥44.36 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 ¥339.4 million, compared with a loss of ¥548.8 million in the prior-year period.

The normalized profit margin climbed to negative 4.0% from negative 8.7% in the year-earlier period.

Total revenue increased 33.4% on an annual basis to ¥8.46 billion from ¥6.34 billion, and total operating expenses increased 25.6% year over year to ¥8.97 billion from ¥7.14 billion.

Reported net income came to a loss of ¥362.0 million, or a loss of ¥28.68 per share, compared to a loss of ¥561.0 million, or a loss of ¥45.35 per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to ¥101.85.