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Toshin fiscal Q2 loss widens 48.8% YOY

Toshin Corp. said its normalized net income for the fiscal second quarter ended Oct. 31 was a loss of ¥6.03 per share, compared with a loss of ¥4.05 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 ¥38.1 million, compared with a loss of ¥25.6 million in the year-earlier period.

The normalized profit margin dropped to negative 0.5% from negative 0.4% in the year-earlier period.

Total revenue rose 9.4% on an annual basis to ¥7.36 billion from ¥6.72 billion, and total operating expenses increased 9.7% year over year to ¥7.40 billion from ¥6.74 billion.

Reported net income came to a loss of ¥28.0 million, or a loss of ¥4.43 per share, compared to a loss of ¥39.0 million, or a loss of ¥6.16 per share, in the year-earlier period.

As of Dec. 12, US$1 was equivalent to ¥118.57.