クラシコ has revised its full-year net results downward from the previous profit forecast to a loss, with the loss large enough to significantly erode net assets at the end of the previous fiscal year.
クラシコ reported a cumulative third-quarter net loss of ¥1.07 billion, compared with net income of ¥110 million in the same period of the previous year. Accordingly, its full-year earnings outlook was also revised from the previous profit forecast to a loss.
Under the new full-year plan, the company has revised its forecast downward from the previously projected profit of ¥150 million to a net loss of ¥1.2 billion, turning from the ¥160 million profit recorded in the previous fiscal year to a loss. The loss is equivalent to approximately 85% of net assets at the end of the fiscal year. The second-half outlook also calls for a loss.
For the third quarter, revenue was approximately ¥2.166 billion, operating loss was ¥423 million, ordinary loss was ¥429 million, and net loss was ¥1.076 billion. The operating margin on revenue deteriorated to -38.8%.