Morishita Jintan Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥44.55 per share, an increase from ¥42.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥181.3 million, a gain from ¥173.1 million in the year-earlier period.

The normalized profit margin rose to 6.9% from 6.2% in the year-earlier period.

Total revenue declined 5.8% on an annual basis to ¥2.62 billion from ¥2.78 billion, and total operating expenses fell 7.7% year over year to ¥2.33 billion from ¥2.52 billion.

Reported net income rose 8.8% from the prior-year period to ¥271.0 million, or ¥66.61 per share, from ¥249.0 million, or ¥61.20 per share.

For the year, the company's normalized net income totaled ¥19.20 per share, a decline of 69.4% from ¥62.83 per share in the prior year.

Normalized net income was ¥78.1 million, a decline of 69.4% from ¥255.6 million in the prior year.

Full-year total revenue declined 5.0% on an annual basis to ¥9.82 billion from ¥10.34 billion, and total operating expenses declined on an annual basis to ¥9.71 billion from ¥9.96 billion.

The company said reported net income declined 73.0% on an annual basis to ¥99.0 million, or ¥24.33 per share, in the full year, from ¥366.0 million, or ¥89.95 per share.

As of June 26, US$1 was equivalent to ¥123.96.