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Y.S.Food swings to loss in fiscal Q1

Y.S.Food Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥3.14 per share, compared with 52 sen 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 ¥11.3 million, compared with income of ¥1.9 million in the year-earlier period.

The normalized profit margin fell to negative 2.4% from 0.4% in the year-earlier period.

Total revenue declined on an annual basis to ¥460.0 million from ¥477.0 million, and total operating expenses grew from the prior-year period to ¥477.0 million from ¥472.0 million.

Reported net income came to a loss of ¥38.0 million, or a loss of ¥10.60 per share, compared to a loss of ¥2.0 million, or a loss of 55 sen per share, in the prior-year period.

As of Aug. 14, US$1 was equivalent to ¥102.44.