Taisei Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥96.51 per share, a decrease of 9.3% from ¥106.39 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥22.11 billion, a decrease of 11.2% from ¥24.89 billion in the year-earlier period.
The normalized profit margin fell to 4.7% from 5.8% in the year-earlier period.
Total revenue grew 8.5% on an annual basis to ¥468.23 billion from ¥431.52 billion, and total operating expenses increased 10.4% from the prior-year period to ¥431.80 billion from ¥391.30 billion.
Reported net income decreased 39.0% year over year to ¥13.92 billion, or ¥60.74 per share, from ¥22.80 billion, or ¥97.44 per share.
For the year, the company's normalized net income totaled ¥392.75 per share, compared to EPS of ¥315.44 in the prior year.
Normalized net income was ¥90.54 billion, a gain from ¥73.81 billion in the prior year.
Full-year total revenue fell from the prior-year period to ¥1.487 trillion from ¥1.546 trillion, and total operating expenses declined year over year to ¥1.346 trillion from ¥1.428 trillion.
The company said reported net income increased on an annual basis to ¥90.57 billion, or ¥392.87 per share, in the full year, from ¥77.05 billion, or ¥329.27 per share.
As of June 30, US$1 was equivalent to ¥112.37.