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KFC Japan swings to loss in fiscal Q4

KFC Holdings Japan Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥9.92 per share, compared with ¥13.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥222.5 million, compared with income of ¥298.8 million in the year-earlier period.

The normalized profit margin dropped to negative 1.1% from 1.5% in the year-earlier period.

Total revenue rose year over year to ¥20.36 billion from ¥20.09 billion, and total operating expenses grew 5.6% on an annual basis to ¥20.73 billion from ¥19.63 billion.

Reported net income totaled a loss of ¥896.0 million, or a loss of ¥39.95 per share, compared to a loss of ¥272.0 million, or a loss of ¥12.12 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥19.12 per share, a decrease of 63.7% from ¥52.71 per share in the prior year.

Normalized net income was ¥428.8 million, a decrease of 63.7% from ¥1.18 billion in the prior year.

Full-year total revenue rose on an annual basis to ¥84.61 billion from ¥83.44 billion, and total operating expenses grew year over year to ¥83.94 billion from ¥81.61 billion.

The company said reported net income totaled a loss of ¥524.0 million, or a loss of ¥23.36 per share, in the full year, compared with income of ¥441.0 million, or ¥19.66 per share, the prior year.

As of June 26, US$1 was equivalent to ¥123.96.