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Tokyo Kiho swings to loss in fiscal Q2

Tokyo Kiho Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of ¥9.89 per share, compared with ¥56.53 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 ¥4.4 million, compared with income of ¥25.0 million in the prior-year period.

The normalized profit margin dropped to negative 0.2% from 1.4% in the year-earlier period.

Total revenue declined year over year to ¥1.79 billion from ¥1.84 billion, and total operating expenses decreased from the prior-year period to ¥1.77 billion from ¥1.81 billion.

Reported net income totaled a loss of ¥12.0 million, or a loss of ¥27.14 per share, compared to income of ¥39.0 million, or ¥88.19 per share, in the prior-year period.

As of Nov. 13, US$1 was equivalent to ¥122.78.