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Hohsui Corp. swings to loss in fiscal Q1

Hohsui Corp. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 24 Japanese sen per share, compared with ¥5.99 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 ¥2.0 million, compared with income of ¥50.1 million in the year-earlier period.

The normalized profit margin declined to negative 0.0% from 0.4% in the year-earlier period.

Total revenue climbed 29.2% year over year to ¥15.11 billion from ¥11.69 billion, and total operating expenses grew 30.7% year over year to ¥15.17 billion from ¥11.61 billion.

Reported net income totaled a loss of ¥43.0 million, or a loss of ¥5.13 per share, compared to income of ¥57.0 million, or ¥6.81 per share, in the year-earlier period.

As of Aug. 13, US$1 was equivalent to ¥102.37.