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McDonald's Holdings swings to loss in Q2

McDonald's Holdings Co. (Japan) Ltd. said its normalized net income for the second quarter came to a loss of ¥39.19 per share, compared with ¥5.52 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 ¥5.21 billion, compared with income of ¥733.4 million in the prior-year period.

The normalized profit margin declined to negative 11.7% from 1.2% in the year-earlier period.

Total revenue decreased 24.3% on an annual basis to ¥44.41 billion from ¥58.67 billion, and total operating expenses declined 8.2% on an annual basis to ¥52.84 billion from ¥57.57 billion.

Reported net income totaled a loss of ¥11.63 billion, or a loss of ¥87.44 per share, compared to income of ¥589.0 million, or ¥4.43 per share, in the year-earlier period.

As of Aug. 14, US$1 was equivalent to ¥124.29.