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Poplar Co. swings to loss in fiscal Q2

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Poplar Co. swings to loss in fiscal Q2

Poplar Co. Ltd. said its normalized net income for the fiscal second quarter ended Aug. 31 amounted to a loss of 25 Japanese sen per share, compared with ¥8.27 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 ¥2.5 million, compared with income of ¥81.9 million in the prior-year period.

The normalized profit margin fell to negative 0.0% from 0.6% in the year-earlier period.

Total revenue declined 11.5% on an annual basis to ¥13.07 billion from ¥14.77 billion, and total operating expenses decreased 10.7% from the prior-year period to ¥13.08 billion from ¥14.64 billion.

Reported net income came to a loss of ¥19.0 million, or a loss of ¥1.92 per share, compared to income of ¥75.0 million, or ¥7.57 per share, in the prior-year period.

As of Oct. 14, US$1 was equivalent to ¥107.05.