Miyakoshi Holdings Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥6.62 per share, a decrease of 22.1% from ¥8.50 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥102.9 million, a decrease of 22.1% from ¥132.0 million in the year-earlier period.

The normalized profit margin rose to 35.2% from 9.2% in the year-earlier period.

Total revenue fell 79.7% year over year to ¥292.0 million from ¥1.44 billion, and total operating expenses decreased 87.6% year over year to ¥145.0 million from ¥1.17 billion.

Reported net income came to a loss of ¥162.0 million, or a loss of ¥10.43 per share, compared to income of ¥167.0 million, or ¥10.75 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥1.06 per share, compared with ¥19.47 per share in the prior year.

Normalized net income was a loss of ¥16.5 million, compared with income of ¥302.5 million in the prior year.

Full-year total revenue fell 59.9% from the prior-year period to ¥2.25 billion from ¥5.60 billion, and total operating expenses declined 66.0% year over year to ¥1.74 billion from ¥5.10 billion.

The company said reported net income rose on an annual basis to ¥1.40 billion, or ¥90.38 per share, in the full year, from ¥304.0 million, or ¥19.57 per share.

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