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Kanseki swings to profit in fiscal Q4

Kanseki Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥2.96 per share, compared with a loss of ¥1.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.9 million, compared with a loss of ¥8.8 million in the year-earlier period.

The normalized profit margin increased to 0.3% from negative 0.1% in the year-earlier period.

Total revenue came to ¥7.66 billion, compared with ¥7.69 billion in the year-earlier period, and total operating expenses totaled ¥7.55 billion, compared with ¥7.63 billion in the prior-year period.

Reported net income totaled a loss of ¥66.0 million, or a loss of ¥8.92 per share, compared to a loss of ¥21.0 million, or a loss of ¥2.84 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥56.75 per share, a gain of 46.7% from ¥38.67 per share in the prior year.

Normalized net income was ¥420.0 million, a rise of 46.7% from ¥286.3 million in the prior year.

Full-year total revenue rose year over year to ¥31.88 billion from ¥31.32 billion, and total operating expenses rose year over year to ¥30.92 billion from ¥30.54 billion.

The company said reported net income grew 22.7% on an annual basis to ¥324.0 million, or ¥43.78 per share, in the full year, from ¥264.0 million, or ¥35.67 per share.

As of May 29, US$1 was equivalent to ¥124.15.