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Kansai Super Market swings to loss in fiscal Q1

Kansai Super Market Ltd. said its normalized net income for the fiscal first quarter ended June 30 amounted to a loss of ¥5.53 per share, compared with ¥13.82 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 ¥156.3 million, compared with income of ¥390.6 million in the year-earlier period.

The normalized profit margin dropped to negative 0.5% from 1.3% in the year-earlier period.

Total revenue totaled ¥28.69 billion, compared with ¥28.96 billion in the year-earlier period, and total operating expenses climbed on an annual basis to ¥29.11 billion from ¥28.69 billion.

Reported net income came to a loss of ¥197.0 million, or a loss of ¥6.97 per share, compared to income of ¥464.0 million, or ¥16.41 per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to ¥101.85.