Trust Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥6.25 per share, a decrease of 20.4% from ¥7.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥161.8 million, a decline of 20.4% from ¥203.1 million in the year-earlier period.

The normalized profit margin declined to 3.5% from 4.1% in the year-earlier period.

Total revenue fell 6.5% on an annual basis to ¥4.61 billion from ¥4.93 billion, and total operating expenses declined 6.3% from the prior-year period to ¥4.13 billion from ¥4.41 billion.

Reported net income declined 18.3% year over year to ¥165.0 million, or ¥6.38 per share, from ¥202.0 million, or ¥7.81 per share.

For the year, the company's normalized net income totaled ¥22.52 per share, a fall of 5.3% from ¥23.78 per share in the prior year.

Normalized net income was ¥582.9 million, a decrease of 5.3% from ¥615.3 million in the prior year.

Full-year total revenue rose 5.2% year over year to ¥18.93 billion from ¥17.99 billion, and total operating expenses increased 5.4% year over year to ¥17.29 billion from ¥16.40 billion.

The company said reported net income totaled ¥616.0 million, or ¥23.81 per share, in the full year, compared with ¥622.0 million, or ¥24.04 per share, the prior year.

As of June 20, US$1 was equivalent to ¥104.41.