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Dainichi fiscal Q1 loss narrows YOY

Dainichi Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥24.53 per share, compared with a loss of ¥24.74 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 ¥433.8 million, compared with a loss of ¥437.5 million in the year-earlier period.

Total revenue declined 70.9% on an annual basis to ¥97.0 million from ¥333.0 million, and total operating expenses declined 22.7% from the prior-year period to ¥832.0 million from ¥1.08 billion.

Reported net income totaled a loss of ¥465.0 million, or a loss of ¥26.30 per share, compared to a loss of ¥451.0 million, or a loss of ¥25.50 per share, in the year-earlier period.

As of Aug. 7, US$1 was equivalent to ¥124.28.