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Hagoromo Foods fiscal Q4 loss widens YOY

Hagoromo Foods Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥9.49 per share, compared with a loss of 3 sen 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 ¥178.8 million, compared with a loss of ¥625,000 in the year-earlier period.

The normalized profit margin dropped to negative 1.0% from negative 0.0% in the year-earlier period.

Total revenue totaled ¥17.13 billion, compared with ¥17.05 billion in the prior-year period, and total operating expenses increased year over year to ¥17.53 billion from ¥17.09 billion.

Reported net income came to ¥233.0 million, or ¥12.37 per share, compared to a loss of ¥646.0 million, or a loss of ¥34.31 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥68.18 per share, an increase from ¥32.53 per share in the prior year.

Normalized net income was ¥1.28 billion, an increase from ¥612.5 million in the prior year.

Full-year total revenue increased from the prior-year period to ¥74.57 billion from ¥73.19 billion, and total operating expenses came to ¥72.83 billion, compared with ¥72.82 billion in the prior-year period.

The company said reported net income fell 26.1% on an annual basis to ¥1.91 billion, or ¥101.28 per share, in the full year, from ¥2.58 billion, or ¥137.11 per share.

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