Bell-Park Co.Ltd. said its normalized net income for the fourth quarter amounted to ¥88.06 per share, a gain of 63.7% from ¥53.81 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥572.5 million, an increase of 64.5% from ¥348.1 million in the prior-year period.

The normalized profit margin rose to 2.1% from 1.2% in the year-earlier period.

Total revenue decreased on an annual basis to ¥27.09 billion from ¥28.47 billion, and total operating expenses fell 6.5% from the prior-year period to ¥26.17 billion from ¥27.98 billion.

Reported net income increased 63.7% on an annual basis to ¥486.9 million, or ¥74.89 per share, from ¥297.5 million, or ¥45.98 per share.

For the year, the company's normalized net income totaled ¥314.30 per share, an increase of 30.7% from ¥240.45 per share in the prior year.

Normalized net income was ¥2.04 billion, a rise of 30.9% from ¥1.56 billion in the prior year.

Full-year total revenue decreased on an annual basis to ¥90.14 billion from ¥91.48 billion, and total operating expenses decreased on an annual basis to ¥86.93 billion from ¥89.11 billion.

The company said reported net income increased 34.9% year over year to ¥1.80 billion, or ¥277.36 per share, in the full year, from ¥1.33 billion, or ¥205.76 per share.

As of March 24, US$1 was equivalent to ¥112.66.