Watahan & Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥211.3 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 1.0%.

Total revenue totaled ¥20.30 billion, and total operating expenses totaled ¥20.00 billion.

Reported net income totaled ¥784.0 million, or ¥80.34 per share.

For the year, the company's normalized net income totaled ¥83.31 per share, a fall of 21.6% from ¥106.33 per share in the prior year.

Normalized net income was ¥712.5 million, a decline of 17.3% from ¥861.3 million in the prior year.

Full-year total revenue declined year over year to ¥83.60 billion from ¥85.37 billion, and total operating expenses decreased year over year to ¥82.58 billion from ¥84.18 billion.

The company said reported net income increased 39.1% year over year to ¥1.33 billion, or ¥155.87 per share, in the full year, from ¥958.0 million, or ¥118.27 per share.

As of June 24, US$1 was equivalent to ¥124.31.