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SHO-BI Corp. swings to loss in fiscal Q2

SHO-BI Corp. said its normalized net income for the fiscal second quarter ended March 31 amounted to a loss of ¥1.58 per share, compared with ¥2.89 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 ¥21.3 million, compared with income of ¥38.8 million in the prior-year period.

The normalized profit margin declined to negative 0.5% from 1.0% in the year-earlier period.

Total revenue rose 9.2% year over year to ¥4.13 billion from ¥3.78 billion, and total operating expenses increased 9.1% from the prior-year period to ¥4.08 billion from ¥3.74 billion.

Reported net income came to a loss of ¥65.0 million, or a loss of ¥4.85 per share, compared to income of ¥15.0 million, or ¥1.12 per share, in the prior-year period.

As of May 13, US$1 was equivalent to ¥109.14.