SAN Holdings Inc. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥53.75 per share, a decrease of 29.8% from ¥76.56 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥301.9 million, a decrease of 29.8% from ¥430.0 million in the prior-year period.

The normalized profit margin fell to 6.2% from 8.4% in the year-earlier period.

Total revenue fell 5.3% year over year to ¥4.84 billion from ¥5.11 billion, and total operating expenses declined year over year to ¥4.35 billion from ¥4.42 billion.

Reported net income declined 5.9% from the prior-year period to ¥238.0 million, or ¥42.37 per share, from ¥253.0 million, or ¥45.04 per share.

For the year, the company's normalized net income totaled ¥193.73 per share, a decrease of 14.3% from ¥226.11 per share in the prior year.

Normalized net income was ¥1.09 billion, a fall of 14.3% from ¥1.27 billion in the prior year.

Full-year total revenue totaled ¥18.51 billion, compared with ¥18.44 billion in the prior year, and total operating expenses rose year over year to ¥16.77 billion from ¥16.42 billion.

The company said reported net income fell 62.6% on an annual basis to ¥368.0 million, or ¥65.52 per share, in the full year, from ¥985.0 million, or ¥175.37 per share.

As of June 24, US$1 was equivalent to ¥102.09.