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Toso fiscal Q1 loss narrows YOY

Toso Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 came to a loss of 65 Japanese sen per share, compared with a loss of ¥2.01 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 ¥6.9 million, compared with a loss of ¥20.9 million in the prior-year period.

The normalized profit margin increased to negative 0.1% from negative 0.4% in the year-earlier period.

Total revenue rose on an annual basis to ¥5.31 billion from ¥5.06 billion, and total operating expenses grew year over year to ¥5.30 billion from ¥5.08 billion.

Reported net income totaled a loss of ¥3.0 million, or a loss of 29 sen per share, compared to a loss of ¥42.0 million, or a loss of ¥4.04 per share, in the prior-year period.

As of Aug. 8, US$1 was equivalent to ¥101.85.