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Three F Co. fiscal Q4 loss widens YOY

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Capital Markets View – January 2021


Three F Co. fiscal Q4 loss widens YOY

Three F Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was a loss of ¥25.96 per share, compared with a loss of ¥8.17 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 ¥196.6 million, compared with a loss of ¥61.9 million in the year-earlier period.

The normalized profit margin declined to negative 4.2% from negative 1.2% in the year-earlier period.

Total revenue fell 5.2% year over year to ¥4.71 billion from ¥4.97 billion, and total operating expenses came to ¥5.03 billion, compared with ¥5.08 billion in the year-earlier period.

Reported net income totaled a loss of ¥455.0 million, or a loss of ¥60.07 per share, compared to a loss of ¥1.07 billion, or a loss of ¥141.67 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥25.73 per share, compared with ¥17.21 per share in the prior year.

Normalized net income was a loss of ¥194.9 million, compared with income of ¥130.4 million in the prior year.

Full-year total revenue decreased 6.4% on an annual basis to ¥20.99 billion from ¥22.43 billion, and total operating expenses decreased year over year to ¥21.36 billion from ¥22.28 billion.

The company said reported net income totaled ¥54.0 million, or ¥7.13 per share, in the full year, compared with a loss of ¥1.15 billion, or a loss of ¥152.23 per share, the prior year.

As of May 29, US$1 was equivalent to ¥124.15.