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Red Planet Japan fiscal Q1 loss widens YOY

Red Planet Japan Inc. said its normalized net income for the fiscal first quarter ended Dec. 31, 2015, was a loss of 98 Japanese sen per share, compared with a loss of 49 sen 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 ¥195.8 million, compared with a loss of ¥71.4 million in the prior-year period.

The normalized profit margin dropped to negative 15.5% from negative 7.6% in the year-earlier period.

Total revenue increased 34.5% on an annual basis to ¥1.26 billion from ¥936.0 million, and total operating expenses rose 51.2% on an annual basis to ¥1.57 billion from ¥1.04 billion.

Reported net income came to a loss of ¥317.0 million, or a loss of ¥1.59 per share, compared to a loss of ¥118.0 million, or a loss of 80 sen per share, in the year-earlier period.

As of Feb. 15, US$1 was equivalent to ¥114.50.