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Asahi fiscal Q4 loss widens YOY

Asahi Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 20 came to a loss of ¥14.14 per share, compared with a loss of ¥5.38 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 ¥370.0 million, compared with a loss of ¥141.3 million in the prior-year period.

The normalized profit margin declined to negative 4.5% from negative 1.7% in the year-earlier period.

Total revenue increased on an annual basis to ¥8.22 billion from ¥8.11 billion, and total operating expenses rose 5.8% year over year to ¥8.85 billion from ¥8.36 billion.

Reported net income came to a loss of ¥498.0 million, or a loss of ¥19.04 per share, compared to a loss of ¥123.0 million, or a loss of ¥4.69 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥59.17 per share, a decrease of 31.8% from ¥86.70 per share in the prior year.

Normalized net income was ¥1.55 billion, a decline of 31.9% from ¥2.27 billion in the prior year.

Full-year total revenue grew 5.7% on an annual basis to ¥44.56 billion from ¥42.16 billion, and total operating expenses increased 9.1% on an annual basis to ¥42.14 billion from ¥38.61 billion.

The company said reported net income fell 37.4% on an annual basis to ¥1.37 billion, or ¥52.32 per share, in the full year, from ¥2.19 billion, or ¥83.38 per share.

As of May 18, US$1 was equivalent to ¥119.85.