Medical Ikkou Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to ¥93.94 per share, a decrease of 12.2% from ¥106.99 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥180.0 million, a decrease of 12.2% from ¥205.0 million in the year-earlier period.

The normalized profit margin fell to 2.6% from 3.4% in the year-earlier period.

Total revenue climbed 14.6% year over year to ¥6.85 billion from ¥5.97 billion, and total operating expenses rose 16.2% from the prior-year period to ¥6.54 billion from ¥5.63 billion.

Reported net income fell 18.0% on an annual basis to ¥155.0 million, or ¥80.89 per share, from ¥189.0 million, or ¥98.64 per share.

For the year, the company's normalized net income totaled ¥406.10 per share, a gain from ¥391.09 per share in the prior year.

Normalized net income was ¥778.1 million, a gain from ¥749.4 million in the prior year.

Full-year total revenue rose 15.4% on an annual basis to ¥26.39 billion from ¥22.87 billion, and total operating expenses grew 16.2% year over year to ¥25.12 billion from ¥21.62 billion.

The company said reported net income grew 16.4% on an annual basis to ¥797.0 million, or ¥415.95 per share, in the full year, from ¥685.0 million, or ¥357.50 per share.

As of May 22, US$1 was equivalent to ¥121.48.