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Toray Industries fiscal Q4 profit climbs 21.4% YOY

Toray Industries Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥13.85 per share, an increase of 24.9% from ¥11.09 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥22.17 billion, an increase of 21.4% from ¥18.26 billion in the prior-year period.

The normalized profit margin increased to 4.2% from 3.7% in the year-earlier period.

Total revenue grew 7.6% on an annual basis to ¥523.75 billion from ¥486.96 billion, and total operating expenses climbed 6.6% on an annual basis to ¥486.75 billion from ¥456.56 billion.

Reported net income decreased 16.6% on an annual basis to ¥8.49 billion, or ¥5.30 per share, from ¥10.17 billion, or ¥6.18 per share.

For the year, the company's normalized net income totaled ¥47.79 per share, compared to EPS of ¥37.86 in the prior year.

Normalized net income was ¥76.65 billion, a gain from ¥63.20 billion in the prior year.

Full-year total revenue rose year over year to ¥2.011 trillion from ¥1.838 trillion, and total operating expenses rose year over year to ¥1.887 trillion from ¥1.733 trillion.

The company said reported net income increased on an annual basis to ¥71.02 billion, or ¥44.28 per share, in the full year, from ¥59.60 billion, or ¥35.70 per share.

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