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CB Group Management swings to loss in fiscal Q4

CB Group Management Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥13.37 per share, compared with ¥90.48 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 ¥29.4 million, compared with income of ¥198.8 million in the year-earlier period.

The normalized profit margin declined to negative 0.1% from 0.6% in the year-earlier period.

Total revenue decreased 10.5% on an annual basis to ¥30.31 billion from ¥33.87 billion, and total operating expenses fell 9.5% from the prior-year period to ¥30.35 billion from ¥33.54 billion.

Reported net income totaled a loss of ¥352.0 million, or a loss of ¥160.26 per share, compared to income of ¥289.0 million, or ¥131.57 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥117.52 per share, compared with ¥360.12 per share in the prior year.

Normalized net income was a loss of ¥258.1 million, compared with income of ¥791.3 million in the prior year.

Full-year total revenue decreased on an annual basis to ¥130.19 billion from ¥136.68 billion, and total operating expenses fell on an annual basis to ¥130.62 billion from ¥135.42 billion.

The company said reported net income totaled a loss of ¥1.66 billion, or a loss of ¥753.51 per share, in the full year, compared with income of ¥859.0 million, or ¥390.95 per share, the prior year.

As of June 29, US$1 was equivalent to ¥122.67.