Buffalo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥18.49 per share, a decline of 50.0% from ¥36.99 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥38.1 million, a decline of 50.0% from ¥76.3 million in the year-earlier period.

The normalized profit margin declined to 1.8% from 3.3% in the year-earlier period.

Total revenue declined 7.5% year over year to ¥2.11 billion from ¥2.28 billion, and total operating expenses decreased 5.6% year over year to ¥2.06 billion from ¥2.19 billion.

Reported net income decreased 76.3% from the prior-year period to ¥18.0 million, or ¥8.73 per share, from ¥76.0 million, or ¥36.87 per share.

For the year, the company's normalized net income totaled ¥48.51 per share, a decrease of 57.7% from ¥114.60 per share in the prior year.

Normalized net income was ¥100.0 million, a fall of 57.7% from ¥236.3 million in the prior year.

Full-year total revenue declined on an annual basis to ¥8.53 billion from ¥8.76 billion, and total operating expenses came to ¥8.44 billion, compared with ¥8.49 billion in the prior-year period.

The company said reported net income decreased 64.0% on an annual basis to ¥81.0 million, or ¥39.29 per share, in the full year, from ¥225.0 million, or ¥109.14 per share.

As of June 24, US$1 was equivalent to ¥124.31.