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Furukawa Battery fiscal Q4 profit climbs 23.0% YOY

Furukawa Battery Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥29.33 per share, a gain of 23.0% from ¥23.83 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥961.3 million, a gain of 23.0% from ¥781.4 million in the year-earlier period.

The normalized profit margin climbed to 5.8% from 5.3% in the year-earlier period.

Total revenue grew 13.2% year over year to ¥16.55 billion from ¥14.62 billion, and total operating expenses climbed 12.9% year over year to ¥15.07 billion from ¥13.35 billion.

Reported net income increased 8.3% on an annual basis to ¥944.0 million, or ¥28.80 per share, from ¥872.0 million, or ¥26.60 per share.

For the year, the company's normalized net income totaled ¥50.81 per share, a fall of 6.2% from ¥54.18 per share in the prior year.

Normalized net income was ¥1.67 billion, a decline of 6.2% from ¥1.78 billion in the prior year.

Full-year total revenue grew 8.8% year over year to ¥53.90 billion from ¥49.56 billion, and total operating expenses grew 9.8% year over year to ¥51.46 billion from ¥46.88 billion.

The company said reported net income decreased 11.8% on an annual basis to ¥1.76 billion, or ¥53.57 per share, in the full year, from ¥1.99 billion, or ¥60.70 per share.

As of June 23, US$1 was equivalent to ¥123.88.