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West Japan Railway fiscal Q4 profit falls YOY

West Japan Railway Co. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥9.13 per share, a decrease of 71.3% from ¥31.82 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.77 billion, a decrease of 71.3% from ¥6.16 billion in the prior-year period.

The normalized profit margin dropped to 0.5% from 1.8% in the year-earlier period.

Total revenue climbed on an annual basis to ¥353.50 billion from ¥345.08 billion, and total operating expenses climbed 5.0% year over year to ¥348.03 billion from ¥331.36 billion.

Reported net income totaled a loss of ¥12.97 billion, or a loss of ¥66.98 per share, compared with income of ¥4.85 billion, or ¥25.07 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥392.10 per share, compared to EPS of ¥357.26 in the prior year.

Normalized net income was ¥75.91 billion, a rise from ¥69.18 billion in the prior year.

Full-year total revenue increased from the prior-year period to ¥1.350 trillion from ¥1.331 trillion, and total operating expenses rose on an annual basis to ¥1.211 trillion from ¥1.196 trillion.

The company said reported net income increased on an annual basis to ¥66.71 billion, or ¥344.58 per share, in the full year, from ¥65.64 billion, or ¥338.98 per share.

As of June 24, US$1 was equivalent to ¥124.31.