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Key Coffee fiscal Q4 loss widens 66.1% YOY

Key Coffee Inc. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥6.19 per share, compared with a loss of ¥3.73 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 ¥140.4 million, compared with a loss of ¥84.5 million in the year-earlier period.

The normalized profit margin dropped to negative 1.0% from negative 0.7% in the year-earlier period.

Total revenue increased 11.4% year over year to ¥13.51 billion from ¥12.13 billion, and total operating expenses grew 12.9% year over year to ¥13.95 billion from ¥12.35 billion.

Reported net income totaled a loss of ¥174.0 million, or a loss of ¥7.67 per share, compared to a loss of ¥248.0 million, or a loss of ¥10.93 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥39.44 per share, a fall of 25.7% from ¥53.11 per share in the prior year.

Normalized net income was ¥894.5 million, a fall of 25.7% from ¥1.20 billion in the prior year.

Full-year total revenue increased 5.0% on an annual basis to ¥56.32 billion from ¥53.62 billion, and total operating expenses rose 6.5% year over year to ¥55.47 billion from ¥52.07 billion.

The company said reported net income declined 21.2% year over year to ¥808.0 million, or ¥35.62 per share, in the full year, from ¥1.03 billion, or ¥45.24 per share.

As of June 25, US$1 was equivalent to ¥123.71.