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Yutaka Foods fiscal Q4 profit falls YOY

Yutaka Foods Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥22.80 per share, an increase from ¥22.13 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥158.8 million, a decrease of 18.3% from ¥194.4 million in the prior-year period.

The normalized profit margin declined to 3.3% from 3.6% in the year-earlier period.

Total revenue fell 12.4% year over year to ¥4.78 billion from ¥5.45 billion, and total operating expenses declined 12.1% from the prior-year period to ¥4.54 billion from ¥5.16 billion.

Reported net income increased 22.1% on an annual basis to ¥238.0 million, or ¥34.18 per share, from ¥195.0 million, or ¥22.21 per share.

For the year, the company's normalized net income totaled ¥94.18 per share, a fall of 9.9% from ¥104.55 per share in the prior year.

Normalized net income was ¥730.6 million, a decline of 20.4% from ¥918.1 million in the prior year.

Full-year total revenue decreased 5.8% from the prior-year period to ¥21.14 billion from ¥22.45 billion, and total operating expenses fell on an annual basis to ¥20.05 billion from ¥21.09 billion.

The company said reported net income declined 7.9% on an annual basis to ¥834.0 million, or ¥107.51 per share, in the full year, from ¥906.0 million, or ¥103.17 per share.

As of June 25, US$1 was equivalent to ¥123.71.