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I.K Co. Ltd. fiscal Q1 loss widens 18.3% YOY

I.K Co. Ltd. said its normalized net income for the fiscal first quarter ended Aug. 31 was a loss of ¥14.75 per share, compared with a loss of ¥12.61 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 ¥52.5 million, compared with a loss of ¥44.4 million in the year-earlier period.

The normalized profit margin declined to negative 2.1% from negative 1.8% in the year-earlier period.

Total revenue declined year over year to ¥2.48 billion from ¥2.52 billion, and total operating expenses declined year over year to ¥2.56 billion from ¥2.59 billion.

Reported net income came to a loss of ¥78.0 million, or a loss of ¥21.92 per share, compared to a loss of ¥57.0 million, or a loss of ¥16.20 per share, in the prior-year period.

As of Oct. 14, US$1 was equivalent to ¥107.05.