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U-Shin fiscal Q4 profit climbs 16.4% YOY

U-Shin Ltd. said its normalized net income for the fiscal fourth quarter ended Nov. 30, 2016, was ¥27.08 per share, a gain of 17.0% from ¥23.16 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥751.0 million, a gain of 16.4% from ¥645.3 million in the prior-year period.

The normalized profit margin climbed to 1.9% from 1.6% in the year-earlier period.

Total revenue declined year over year to ¥40.33 billion from ¥41.27 billion, and total operating expenses fell from the prior-year period to ¥39.06 billion from ¥40.16 billion.

Reported net income came to a loss of ¥6.71 billion, or a loss of ¥241.79 per share, compared to income of ¥19.5 million, or 70 sen per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥51.27 per share, a gain from ¥10.45 per share in the prior year.

Normalized net income was ¥1.42 billion, a gain from ¥283.6 million in the prior year.

Full-year total revenue fell 6.3% year over year to ¥153.89 billion from ¥164.23 billion, and total operating expenses decreased 5.6% year over year to ¥150.62 billion from ¥159.51 billion.

The company said reported net income came to a loss of ¥9.66 billion, or a loss of ¥348.50 per share, in the full year, compared with income of ¥226.8 million, or ¥8.36 per share, the prior year.

As of Feb. 24, US$1 was equivalent to ¥112.36.