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Poplar Co. fiscal Q1 loss widens 10.8% YOY

Poplar Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 amounted to a loss of ¥12.93 per share, compared with a loss of ¥11.67 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 ¥128.1 million, compared with a loss of ¥115.6 million in the prior-year period.

The normalized profit margin dropped to negative 1.0% from negative 0.8% in the year-earlier period.

Total revenue declined 9.3% year over year to ¥12.59 billion from ¥13.88 billion, and total operating expenses fell 9.1% on an annual basis to ¥12.79 billion from ¥14.07 billion.

Reported net income came to a loss of ¥240.0 million, or a loss of ¥24.23 per share, compared to a loss of ¥201.0 million, or a loss of ¥20.29 per share, in the prior-year period.

As of July 14, US$1 was equivalent to ¥101.58.