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Fujita Kanko Q1 loss widens 26.7% YOY

Fujita Kanko Inc. said its first-quarter normalized net income amounted to a loss of ¥48.29 per share, compared with a loss of ¥38.11 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 ¥578.8 million, compared with a loss of ¥456.8 million in the prior-year period.

The normalized profit margin declined to negative 4.0% from negative 3.1% in the year-earlier period.

Total revenue decreased year over year to ¥14.34 billion from ¥14.67 billion, and total operating expenses totaled ¥15.12 billion, compared with ¥15.24 billion in the year-earlier period.

Reported net income totaled a loss of ¥897.0 million, or a loss of ¥74.84 per share, compared to a loss of ¥593.0 million, or a loss of ¥49.48 per share, in the prior-year period.

As of May 8, US$1 was equivalent to ¥119.78.