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Riso Kyoiku fiscal Q1 loss narrows YOY

Riso Kyoiku Co. Ltd. said its normalized net income for the fiscal first quarter ended May 31 was a loss of ¥6.59 per share, compared with a loss of ¥18.19 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 ¥307.5 million, compared with a loss of ¥728.8 million in the prior-year period.

The normalized profit margin increased to negative 8.1% from negative 20.4% in the year-earlier period.

Total revenue climbed 6.3% year over year to ¥3.79 billion from ¥3.57 billion, and total operating expenses fell 9.4% year over year to ¥4.29 billion from ¥4.73 billion.

Reported net income came to ¥282.0 million, or ¥6.04 per share, compared to a loss of ¥898.0 million, or a loss of ¥22.41 per share, in the prior-year period.

As of July 14, US$1 was equivalent to ¥101.58.