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Ginza Yamagataya fiscal Q4 loss narrows YOY

Ginza Yamagataya Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥2.17 per share, compared with a loss of ¥10.86 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥3.8 million, compared with a loss of ¥18.8 million in the year-earlier period.

The normalized profit margin rose to negative 0.3% from negative 1.7% in the year-earlier period.

Total revenue climbed 7.1% year over year to ¥1.20 billion from ¥1.12 billion, and total operating expenses grew 5.0% year over year to ¥1.21 billion from ¥1.15 billion.

Reported net income totaled a loss of ¥12.0 million, or a loss of ¥6.95 per share, compared to a loss of ¥36.0 million, or a loss of ¥20.85 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥86.54 per share, a gain of 45.7% from ¥59.38 per share in the prior year.

Normalized net income was ¥149.4 million, a rise of 45.7% from ¥102.5 million in the prior year.

Full-year total revenue rose 6.6% from the prior-year period to ¥4.82 billion from ¥4.52 billion, and total operating expenses increased 5.4% on an annual basis to ¥4.65 billion from ¥4.42 billion.

The company said reported net income rose 43.9% year over year to ¥190.0 million, or ¥110.07 per share, in the full year, from ¥132.0 million, or ¥76.46 per share.

As of June 29, US$1 was equivalent to ¥122.67.