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Sagami Chain fiscal Q4 profit climbs YOY

Sagami Chain Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥4.64 per share, a gain from ¥1.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥115.9 million, a gain from ¥36.6 million in the year-earlier period.

The normalized profit margin increased to 1.8% from 0.8% in the year-earlier period.

Total revenue increased 31.2% on an annual basis to ¥6.28 billion from ¥4.78 billion, and total operating expenses grew 29.4% on an annual basis to ¥6.11 billion from ¥4.73 billion.

Reported net income grew 22.6% year over year to ¥195.0 million, or ¥7.81 per share, from ¥159.0 million, or ¥6.37 per share.

For the year, the company's normalized net income totaled ¥16.58 per share, a gain of 14.4% from ¥14.50 per share in the prior year.

Normalized net income was ¥413.9 million, a gain of 14.3% from ¥362.0 million in the prior year.

Full-year total revenue grew 29.8% year over year to ¥25.34 billion from ¥19.52 billion, and total operating expenses grew 30.4% year over year to ¥24.76 billion from ¥18.99 billion.

The company said reported net income fell 23.0% on an annual basis to ¥458.0 million, or ¥18.35 per share, in the full year, from ¥595.0 million, or ¥23.83 per share.

As of June 29, US$1 was equivalent to ¥122.67.