Owari Precise Products Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥94.89 per share, a decline of 16.0% from ¥112.91 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥109.8 million, a decrease of 16.0% from ¥130.6 million in the year-earlier period.

The normalized profit margin fell to 2.6% from 3.2% in the year-earlier period.

Total revenue rose year over year to ¥4.22 billion from ¥4.07 billion, and total operating expenses rose 5.3% on an annual basis to ¥4.07 billion from ¥3.86 billion.

Reported net income decreased 11.9% year over year to ¥96.0 million, or ¥83.00 per share, from ¥109.0 million, or ¥94.22 per share.

For the year, the company's normalized net income totaled ¥395.67 per share, a decrease of 30.3% from ¥567.63 per share in the prior year.

Normalized net income was ¥457.8 million, a decrease of 30.0% from ¥653.6 million in the prior year.

Full-year total revenue grew from the prior-year period to ¥15.73 billion from ¥15.37 billion, and total operating expenses grew year over year to ¥15.21 billion from ¥14.53 billion.

The company said reported net income decreased 26.2% year over year to ¥629.0 million, or ¥543.69 per share, in the full year, from ¥852.0 million, or ¥739.90 per share.

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