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Kajima swings to loss in fiscal Q4

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Kajima swings to loss in fiscal Q4

Kajima Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥7.08 per share, compared with ¥4.67 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥7.35 billion, compared with income of ¥4.85 billion in the prior-year period.

The normalized profit margin dropped to negative 1.4% from 1.0% in the year-earlier period.

Total revenue increased 8.1% on an annual basis to ¥519.13 billion from ¥480.09 billion, and total operating expenses grew 12.7% year over year to ¥530.62 billion from ¥471.01 billion.

Reported net income came to a loss of ¥8.38 billion, or a loss of ¥8.07 per share, compared with income of ¥6.81 billion, or ¥6.55 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥10.97 per share, compared to EPS of ¥15.72 in the prior year.

Normalized net income was ¥11.39 billion, a fall from ¥16.33 billion in the prior year.

Full-year total revenue grew year over year to ¥1.694 trillion from ¥1.521 trillion, and total operating expenses grew year over year to ¥1.681 trillion from ¥1.498 trillion.

The company said reported net income fell on an annual basis to ¥15.14 billion, or ¥14.58 per share, in the full year, from ¥20.75 billion, or ¥19.98 per share.

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