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Ichishin Holdings fiscal Q4 profit falls YOY

Ichishin Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥43.10 per share, a decrease of 26.0% from ¥58.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥445.0 million, a decline of 15.4% from ¥526.3 million in the year-earlier period.

The normalized profit margin dropped to 9.1% from 10.2% in the year-earlier period.

Total revenue decreased 5.0% year over year to ¥4.89 billion from ¥5.14 billion, and total operating expenses decreased year over year to ¥4.17 billion from ¥4.30 billion.

Reported net income totaled a loss of ¥306.0 million, or a loss of ¥29.64 per share, compared to income of ¥525.0 million, or ¥58.14 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥17.67 per share, an increase from ¥5.81 per share in the prior year.

Normalized net income was ¥176.3 million, an increase from ¥52.5 million in the prior year.

Full-year total revenue decreased 6.1% on an annual basis to ¥16.77 billion from ¥17.86 billion, and total operating expenses decreased 7.3% year over year to ¥16.46 billion from ¥17.76 billion.

The company said reported net income came to a loss of ¥1.05 billion, or a loss of ¥105.57 per share, in the full year, compared with a loss of ¥737.0 million, or a loss of ¥81.61 per share, the prior year.

As of May 28, US$1 was equivalent to ¥124.24.