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Daitobo swings to loss in fiscal Q4

Daitobo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥6.72 per share, compared with ¥2.98 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 ¥201.3 million, compared with income of ¥89.3 million in the year-earlier period.

The normalized profit margin dropped to negative 14.1% from 4.1% in the year-earlier period.

Total revenue fell 34.6% on an annual basis to ¥1.42 billion from ¥2.17 billion, and total operating expenses fell 13.3% on an annual basis to ¥1.68 billion from ¥1.94 billion.

Reported net income totaled a loss of ¥424.0 million, or a loss of ¥14.16 per share, compared to income of ¥131.0 million, or ¥4.38 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥10.88 per share, compared with ¥1.69 per share in the prior year.

Normalized net income was a loss of ¥325.6 million, compared with income of ¥50.5 million in the prior year.

Full-year total revenue declined 21.3% from the prior-year period to ¥5.94 billion from ¥7.55 billion, and total operating expenses fell 13.9% year over year to ¥6.17 billion from ¥7.16 billion.

The company said reported net income came to a loss of ¥644.0 million, or a loss of ¥21.51 per share, in the full year, compared with income of ¥27.0 million, or 90 sen per share, the prior year.

As of June 25, US$1 was equivalent to ¥123.71.