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Asti fiscal Q2 loss narrows YOY

Asti Corp. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to a loss of ¥6.76 per share, compared with a loss of ¥15.36 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 ¥22.1 million, compared with a loss of ¥52.1 million in the prior-year period.

The normalized profit margin rose to negative 0.2% from negative 0.6% in the year-earlier period.

Total revenue grew 12.8% on an annual basis to ¥9.30 billion from ¥8.25 billion, and total operating expenses climbed 13.9% on an annual basis to ¥9.43 billion from ¥8.27 billion.

Reported net income totaled a loss of ¥66.0 million, or a loss of ¥20.17 per share, compared to a loss of ¥116.0 million, or a loss of ¥34.17 per share, in the prior-year period.

As of Nov. 14, US$1 was equivalent to ¥116.46.