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Omikenshi swings to loss in fiscal Q2

Omikenshi Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of 82 Japanese sen per share, compared with 33 sen 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 ¥54.1 million, compared with income of ¥21.6 million in the prior-year period.

The normalized profit margin dropped to negative 1.6% from 0.6% in the year-earlier period.

Total revenue declined 7.5% year over year to ¥3.42 billion from ¥3.70 billion, and total operating expenses decreased 5.1% year over year to ¥3.42 billion from ¥3.60 billion.

Reported net income totaled a loss of ¥117.0 million, or a loss of ¥1.77 per share, compared to a loss of ¥68.0 million, or a loss of ¥1.03 per share, in the year-earlier period.

As of Nov. 12, US$1 was equivalent to ¥122.92.