Inageya Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥11.09 per share, a decline of 46.9% from ¥20.91 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥515.1 million, a decrease of 46.9% from ¥970.9 million in the year-earlier period.

The normalized profit margin declined to 0.9% from 1.7% in the year-earlier period.

Total revenue grew year over year to ¥58.78 billion from ¥56.92 billion, and total operating expenses rose on an annual basis to ¥57.98 billion from ¥55.44 billion.

Reported net income came to a loss of ¥408.0 million, or a loss of ¥8.79 per share, compared to income of ¥439.0 million, or ¥9.45 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥46.52 per share, a gain of 17.8% from ¥39.49 per share in the prior year.

Normalized net income was ¥2.16 billion, a gain of 17.8% from ¥1.83 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥240.30 billion from ¥230.41 billion, and total operating expenses rose on an annual basis to ¥237.05 billion from ¥227.74 billion.

The company said reported net income fell 7.2% year over year to ¥1.09 billion, or ¥23.52 per share, in the full year, from ¥1.18 billion, or ¥25.35 per share.

As of June 25, US$1 was equivalent to ¥123.71.