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Sanko Marketing Foods fiscal Q3 loss narrows YOY

Sanko Marketing Foods Co. Ltd. said its normalized net income for the fiscal third quarter ended March 31 was a loss of 61 Japanese sen per share, compared with a loss of ¥4.81 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 ¥8.8 million, compared with a loss of ¥206.3 million in the prior-year period.

The normalized profit margin rose to negative 0.2% from negative 4.4% in the year-earlier period.

Total revenue fell 22.5% year over year to ¥3.61 billion from ¥4.65 billion, and total operating expenses fell 27.5% from the prior-year period to ¥3.61 billion from ¥4.99 billion.

Reported net income came to a loss of ¥134.0 million, or a loss of ¥9.31 per share, compared to a loss of ¥1.00 billion, or a loss of ¥23.39 per share, in the year-earlier period.

As of May 13, US$1 was equivalent to ¥119.08.