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Hayashikane Sangyo fiscal Q1 loss widens YOY

Hayashikane Sangyo Co. Ltd. said its normalized net income for the fiscal first quarter ended June 30 was a loss of ¥14.35 per share, compared with a loss of ¥3.29 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 ¥127.8 million, compared with a loss of ¥29.3 million in the prior-year period.

The normalized profit margin dropped to negative 1.2% from negative 0.3% in the year-earlier period.

Total revenue decreased on an annual basis to ¥10.32 billion from ¥10.47 billion, and total operating expenses held steady year over year at ¥10.54 billion.

Reported net income came to a loss of ¥226.0 million, or a loss of ¥25.38 per share, compared to a loss of ¥68.0 million, or a loss of ¥7.64 per share, in the prior-year period.

As of Aug. 13, US$1 was equivalent to ¥102.37.