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Maxvalu Tokai fiscal Q4 profit climbs 23.2% YOY

Maxvalu Tokai Co.Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 29 amounted to ¥76.12 per share, an increase of 23.1% from ¥61.82 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.36 billion, a gain of 23.2% from ¥1.10 billion in the prior-year period.

The normalized profit margin rose to 2.4% from 2.1% in the year-earlier period.

Total revenue grew 5.7% year over year to ¥56.39 billion from ¥53.36 billion, and total operating expenses rose 4.9% from the prior-year period to ¥54.24 billion from ¥51.68 billion.

Reported net income grew 12.6% from the prior-year period to ¥722.0 million, or ¥40.53 per share, from ¥641.1 million, or ¥36.01 per share.

For the year, the company's normalized net income totaled ¥176.11 per share, an increase of 36.7% from ¥128.88 per share in the prior year.

Normalized net income was ¥3.14 billion, a gain of 36.7% from ¥2.29 billion in the prior year.

Full-year total revenue increased 5.1% from the prior-year period to ¥219.41 billion from ¥208.67 billion, and total operating expenses rose year over year to ¥214.62 billion from ¥205.38 billion.

The company said reported net income rose 47.7% on an annual basis to ¥1.87 billion, or ¥105.18 per share, in the full year, from ¥1.27 billion, or ¥71.25 per share.

As of May 30, US$1 was equivalent to ¥111.07.