Miyoshi Oil & Fat Co. Ltd. said its fourth-quarter normalized net income came to ¥21.86 per share, an increase of 29.1% from ¥16.93 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥225.1 million, an increase of 29.1% from ¥174.4 million in the prior-year period.

The normalized profit margin increased to 1.9% from 1.5% in the year-earlier period.

Total revenue totaled ¥11.98 billion, compared with ¥11.92 billion in the year-earlier period, and total operating expenses totaled ¥11.68 billion, compared with ¥11.70 billion in the prior-year period.

Reported net income increased 27.4% on an annual basis to ¥237.0 million, or ¥23.01 per share, from ¥186.0 million, or ¥18.06 per share.

For the year, the company's normalized net income totaled ¥45.52 per share, a gain from ¥20.85 per share in the prior year.

Normalized net income was ¥468.8 million, a rise from ¥214.8 million in the prior year.

Full-year total revenue amounted to ¥45.27 billion, compared with ¥45.38 billion in the prior year, and total operating expenses decreased on an annual basis to ¥44.71 billion from ¥45.24 billion.

The company said reported net income rose 67.4% year over year to ¥360.0 million, or ¥34.96 per share, in the full year, from ¥215.0 million, or ¥20.88 per share.

As of March 29, US$1 was equivalent to ¥113.44.