Supermarket operator Seiyu Ltd. said Tuesday its group net loss for the 10 months ending in December came to 7 billion yen, blaming the red ink on the unseasonably cold summer.
The chain had a truncated 10-month fiscal year for 2003 to adjust to the same fiscal period used by Wal-Mart Stores Inc. of the United States, which has acquired a 37.8 percent stake in Seiyu.
Comparable figures are therefore unavailable, but the company logged a net loss of 90.84 billion yen during the preceding 12 months due to restructuring expenses and investment losses.