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Coca-Cola Bottlers Japan Q1 loss narrows YOY

Coca-Cola Bottlers Japan Holdings Inc. said its first-quarter normalized net income was a loss of ¥7.04 per share, compared with a loss of ¥7.91 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 ¥768.3 million, compared with a loss of ¥863.5 million in the prior-year period.

The normalized profit margin increased to negative 0.8% from negative 0.9% in the year-earlier period.

Total revenue fell year over year to ¥91.12 billion from ¥94.90 billion, and total operating expenses declined year over year to ¥92.36 billion from ¥96.28 billion.

Reported net income came to a loss of ¥1.25 billion, or a loss of ¥11.47 per share, compared to a loss of ¥1.07 billion, or a loss of ¥9.84 per share, in the year-earlier period.

As of May 8, US$1 was equivalent to ¥119.78.