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Toyota Industries fiscal Q4 profit climbs YOY

Toyota Industries Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥47.67 per share, an increase from ¥45.61 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.98 billion, a gain from ¥14.31 billion in the prior-year period.

The normalized profit margin declined to 2.6% from 2.7% in the year-earlier period.

Total revenue increased 10.7% on an annual basis to ¥583.43 billion from ¥527.18 billion, and total operating expenses increased 11.7% on an annual basis to ¥555.50 billion from ¥497.52 billion.

Reported net income fell 10.6% on an annual basis to ¥13.64 billion, or ¥43.43 per share, from ¥15.26 billion, or ¥48.63 per share.

For the year, the company's normalized net income totaled ¥321.37 per share, compared to EPS of ¥267.95 in the prior year.

Normalized net income was ¥100.94 billion, an increase from ¥83.99 billion in the prior year.

Full-year total revenue grew from the prior-year period to ¥2.167 trillion from ¥2.008 trillion, and total operating expenses grew on an annual basis to ¥2.049 trillion from ¥1.900 trillion.

The company said reported net income grew year over year to ¥115.26 billion, or ¥366.99 per share, in the full year, from ¥91.71 billion, or ¥292.57 per share.

As of June 11, US$1 was equivalent to ¥123.66.