Kasai Kogyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥48.94 per share, a decline of 20.7% from ¥61.74 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.88 billion, a decrease of 20.5% from ¥2.36 billion in the prior-year period.

The normalized profit margin fell to 3.1% from 3.9% in the year-earlier period.

Total revenue came to ¥61.27 billion, compared with ¥60.93 billion in the prior-year period, and total operating expenses rose on an annual basis to ¥57.76 billion from ¥56.93 billion.

Reported net income declined 18.0% from the prior-year period to ¥1.67 billion, or ¥43.45 per share, from ¥2.03 billion, or ¥53.18 per share.

For the year, the company's normalized net income totaled ¥216.12 per share, a gain of 27.6% from ¥169.38 per share in the prior year.

Normalized net income was ¥8.28 billion, a gain of 28.8% from ¥6.43 billion in the prior year.

Full-year total revenue increased 10.8% year over year to ¥237.99 billion from ¥214.88 billion, and total operating expenses rose 9.1% year over year to ¥221.74 billion from ¥203.23 billion.

The company said reported net income grew 30.0% year over year to ¥8.54 billion, or ¥222.93 per share, in the full year, from ¥6.57 billion, or ¥173.09 per share.

As of June 24, US$1 was equivalent to ¥102.09.