Syuppin Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥4.07 per share, a decline of 57.2% from ¥9.51 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥121.9 million, a gain of 7.1% from ¥113.8 million in the prior-year period.

The normalized profit margin declined to 2.4% from 2.6% in the year-earlier period.

Total revenue increased 16.9% year over year to ¥5.08 billion from ¥4.35 billion, and total operating expenses climbed 17.2% on an annual basis to ¥4.88 billion from ¥4.17 billion.

Reported net income increased 66.3% year over year to ¥133.0 million, or ¥4.44 per share, from ¥80.0 million, or ¥6.69 per share.

For the year, the company's normalized net income totaled ¥45.32 per share, a gain of 25.0% from ¥36.27 per share in the prior year.

Normalized net income was ¥542.5 million, an increase of 26.2% from ¥430.0 million in the prior year.

Full-year total revenue grew 22.8% on an annual basis to ¥19.17 billion from ¥15.60 billion, and total operating expenses grew 22.7% year over year to ¥18.28 billion from ¥14.90 billion.

The company said reported net income rose 44.4% on an annual basis to ¥563.0 million, or ¥47.03 per share, in the full year, from ¥390.0 million, or ¥32.89 per share.

As of June 26, US$1 was equivalent to ¥123.96.