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U-Shin fiscal Q1 loss widens YOY

U-Shin Ltd. said its normalized net income for the fiscal first quarter ended Feb. 28 amounted to a loss of ¥42.45 per share, compared with a loss of ¥11.67 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 ¥1.13 billion, compared with a loss of ¥348.3 million in the year-earlier period.

The normalized profit margin dropped to negative 2.8% from negative 0.9% in the year-earlier period.

Total revenue climbed 9.5% on an annual basis to ¥40.17 billion from ¥36.69 billion, and total operating expenses climbed 7.4% on an annual basis to ¥39.34 billion from ¥36.63 billion.

Reported net income totaled a loss of ¥632.0 million, or a loss of ¥23.68 per share, compared to a loss of ¥1.95 billion, or a loss of ¥65.25 per share, in the prior-year period.

As of April 10, US$1 was equivalent to ¥120.22.