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Starzen fiscal Q4 profit falls YOY

Starzen Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥14.64 per share, a decrease of 34.0% from ¥22.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥117.4 million, a decline of 33.7% from ¥177.1 million in the prior-year period.

The normalized profit margin fell to 0.2% from 0.3% in the year-earlier period.

Total revenue rose 13.4% year over year to ¥69.35 billion from ¥61.13 billion, and total operating expenses grew 13.9% from the prior-year period to ¥69.36 billion from ¥60.92 billion.

Reported net income came to a loss of ¥111.8 million, or a loss of ¥13.97 per share, compared to income of ¥730.0 million, or ¥91.34 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥359.10 per share, an increase of 65.8% from ¥216.61 per share in the prior year.

Normalized net income was ¥2.90 billion, a rise of 67.7% from ¥1.73 billion in the prior year.

Full-year total revenue rose 10.1% year over year to ¥282.57 billion from ¥256.58 billion, and total operating expenses increased 9.5% year over year to ¥278.67 billion from ¥254.61 billion.

The company said reported net income rose 62.1% on an annual basis to ¥2.83 billion, or ¥350.50 per share, in the full year, from ¥1.75 billion, or ¥218.70 per share.

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