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Harakosan fiscal Q4 loss narrows YOY

Harakosan Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to a loss of 60 Japanese sen per share, compared with a loss of ¥2.97 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 ¥23.8 million, compared with a loss of ¥70.6 million in the year-earlier period.

The normalized profit margin rose to negative 1.5% from negative 28.3% in the year-earlier period.

Total revenue increased on an annual basis to ¥1.53 billion from ¥250.0 million, and total operating expenses grew on an annual basis to ¥1.51 billion from ¥340.0 million.

Reported net income came to a loss of ¥39.0 million, or a loss of 99 sen per share, compared to income of ¥428.0 million, or ¥17.99 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥8.61 per share, compared with a loss of ¥21.97 per share in the prior year.

Normalized net income was a loss of ¥336.3 million, compared with a loss of ¥498.8 million in the prior year.

Full-year total revenue increased on an annual basis to ¥4.53 billion from ¥1.37 billion, and total operating expenses increased 169.4% year over year to ¥4.92 billion from ¥1.83 billion.

The company said reported net income came to a loss of ¥577.0 million, or a loss of ¥14.78 per share, in the full year, compared with a loss of ¥293.0 million, or a loss of ¥12.90 per share, the prior year.

As of June 1, US$1 was equivalent to ¥124.52.