Kirindo Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥26.92 per share, a decline of 50.1% from ¥53.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥305.0 million, a decrease of 50.1% from ¥610.9 million in the year-earlier period.

The normalized profit margin fell to 1.0% from 2.3% in the year-earlier period.

Total revenue climbed 15.8% on an annual basis to ¥30.48 billion from ¥26.33 billion, and total operating expenses increased 18.3% year over year to ¥30.13 billion from ¥25.47 billion.

Reported net income declined 13.2% from the prior-year period to ¥362.0 million, or ¥31.95 per share, from ¥417.0 million, or ¥36.80 per share.

For the year, the company's normalized net income totaled ¥78.45 per share, a decrease of 36.8% from ¥124.14 per share in the prior year.

Normalized net income was ¥888.9 million, a decrease of 36.8% from ¥1.41 billion in the prior year.

Full-year total revenue rose from the prior-year period to ¥108.03 billion from ¥103.06 billion, and total operating expenses grew 5.8% year over year to ¥107.08 billion from ¥101.23 billion.

The company said reported net income decreased 34.3% on an annual basis to ¥619.0 million, or ¥54.63 per share, in the full year, from ¥942.0 million, or ¥83.13 per share.

As of May 29, US$1 was equivalent to ¥124.15.