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Nagase Brothers fiscal Q1 loss widens 31.0% YOY

Nagase Brothers Inc. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥91.63 per share, compared with a loss of ¥69.60 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 ¥870.6 million, compared with a loss of ¥664.4 million in the prior-year period.

The normalized profit margin dropped to negative 12.2% from negative 9.6% in the year-earlier period.

Total revenue rose on an annual basis to ¥7.14 billion from ¥6.94 billion, and total operating expenses climbed on an annual basis to ¥8.27 billion from ¥7.94 billion.

Reported net income came to a loss of ¥1.18 billion, or a loss of ¥124.18 per share, compared to a loss of ¥668.0 million, or a loss of ¥69.98 per share, in the year-earlier period.

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