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Nitto Seimo fiscal Q4 profit climbs YOY

Nitto Seimo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended April 30 amounted to ¥167.03 per share, a gain from ¥65.38 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥433.3 million, a gain from ¥169.6 million in the year-earlier period.

The normalized profit margin climbed to 7.5% from 3.4% in the year-earlier period.

Total revenue rose 15.2% on an annual basis to ¥5.75 billion from ¥4.99 billion, and total operating expenses increased year over year to ¥4.93 billion from ¥4.73 billion.

Reported net income rose 96.7% on an annual basis to ¥537.0 million, or ¥207.02 per share, from ¥273.0 million, or ¥105.22 per share.

For the year, the company's normalized net income totaled ¥210.81 per share, an increase of 34.3% from ¥157.02 per share in the prior year.

Normalized net income was ¥546.9 million, a gain of 34.0% from ¥408.0 million in the prior year.

Full-year total revenue amounted to ¥16.50 billion, compared with ¥16.55 billion in the prior year, and total operating expenses decreased on an annual basis to ¥15.35 billion from ¥15.91 billion.

The company said reported net income increased 42.4% on an annual basis to ¥594.0 million, or ¥228.97 per share, in the full year, from ¥417.0 million, or ¥160.48 per share.

As of July 27, US$1 was equivalent to ¥105.61.