Misawa Homes Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of ¥61.55 per share, compared with a loss of ¥58.65 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 ¥2.29 billion, compared with a loss of ¥2.18 billion in the prior-year period.
The normalized profit margin declined to negative 3.0% from negative 3.0% in the year-earlier period.
Total revenue climbed year over year to ¥76.02 billion from ¥73.49 billion, and total operating expenses increased from the prior-year period to ¥79.81 billion from ¥77.12 billion.
Reported net income totaled a loss of ¥3.56 billion, or a loss of ¥95.70 per share, compared to a loss of ¥3.48 billion, or a loss of ¥93.81 per share, in the year-earlier period.
As of Aug. 8, US$1 was equivalent to ¥101.85.
