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Boso Oil & Fat swings to loss in fiscal Q4

Boso Oil & Fat Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥49.91 per share, compared with ¥29.71 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 ¥78.8 million, compared with income of ¥46.9 million in the year-earlier period.

The normalized profit margin declined to negative 1.7% from 0.9% in the year-earlier period.

Total revenue declined 11.9% on an annual basis to ¥4.52 billion from ¥5.13 billion, and total operating expenses declined 8.1% from the prior-year period to ¥4.63 billion from ¥5.04 billion.

Reported net income totaled a loss of ¥111.0 million, or a loss of ¥70.35 per share, compared to income of ¥25.0 million, or ¥15.84 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥59.02 per share, compared with a loss of ¥18.22 per share in the prior year.

Normalized net income was ¥93.1 million, compared with a loss of ¥28.8 million in the prior year.

Full-year total revenue declined 6.6% from the prior-year period to ¥18.98 billion from ¥20.32 billion, and total operating expenses declined 7.1% on an annual basis to ¥18.88 billion from ¥20.33 billion.

The company said reported net income came to ¥78.0 million, or ¥49.43 per share, in the full year, compared with a loss of ¥43.0 million, or a loss of ¥27.25 per share, the prior year.

As of June 26, US$1 was equivalent to ¥123.96.