Kurabo Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥2.90 per share, a decrease of 10.9% from ¥3.26 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥669.1 million, a decrease of 10.9% from ¥751.3 million in the year-earlier period.

The normalized profit margin fell to 1.4% from 1.7% in the year-earlier period.

Total revenue climbed 8.1% on an annual basis to ¥47.08 billion from ¥43.53 billion, and total operating expenses increased 9.3% from the prior-year period to ¥46.06 billion from ¥42.16 billion.

Reported net income fell 72.4% year over year to ¥289.0 million, or ¥1.25 per share, from ¥1.05 billion, or ¥4.53 per share.

For the year, the company's normalized net income totaled ¥10.27 per share, a gain of 36.0% from ¥7.55 per share in the prior year.

Normalized net income was ¥2.37 billion, a gain of 36.0% from ¥1.74 billion in the prior year.

Full-year total revenue grew year over year to ¥169.53 billion from ¥164.85 billion, and total operating expenses grew year over year to ¥166.78 billion from ¥162.68 billion.

The company said reported net income fell 22.1% on an annual basis to ¥1.15 billion, or ¥4.97 per share, in the full year, from ¥1.47 billion, or ¥6.38 per share.

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