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Hayashikane Sangyo swings to profit in fiscal Q4

Hayashikane Sangyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥5.45 per share, compared with a loss of ¥12.93 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥48.5 million, compared with a loss of ¥115.1 million in the year-earlier period.

The normalized profit margin climbed to 0.5% from negative 1.2% in the year-earlier period.

Total revenue climbed year over year to ¥10.20 billion from ¥9.92 billion, and total operating expenses totaled ¥10.07 billion, compared with ¥10.05 billion in the year-earlier period.

Reported net income totaled ¥60.0 million, or ¥6.74 per share, compared to a loss of ¥181.0 million, or a loss of ¥20.33 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥27.94 per share, compared with a loss of ¥5.11 per share in the prior year.

Normalized net income was ¥248.8 million, compared with a loss of ¥45.5 million in the prior year.

Full-year total revenue increased year over year to ¥47.66 billion from ¥45.94 billion, and total operating expenses increased year over year to ¥47.10 billion from ¥45.86 billion.

The company said reported net income totaled ¥383.0 million, or ¥43.02 per share, in the full year, compared with a loss of ¥35.0 million, or a loss of ¥3.93 per share, the prior year.

As of June 26, US$1 was equivalent to ¥123.96.