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Maruichi swings to loss in fiscal Q4

MARUICHI Co.Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥3.82 per share, compared with ¥1.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥88.1 million, compared with income of ¥31.5 million in the prior-year period.

The normalized profit margin declined to negative 0.2% from 0.1% in the year-earlier period.

Total revenue increased 8.2% on an annual basis to ¥42.45 billion from ¥39.24 billion, and total operating expenses increased 8.5% on an annual basis to ¥42.63 billion from ¥39.30 billion.

Reported net income totaled a loss of ¥341.0 million, or a loss of ¥14.79 per share, compared to a loss of ¥264.0 million, or a loss of ¥11.45 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥50.01 per share, a gain of 21.9% from ¥41.02 per share in the prior year.

Normalized net income was ¥1.15 billion, a gain of 21.9% from ¥945.6 million in the prior year.

Full-year total revenue increased 6.6% on an annual basis to ¥184.62 billion from ¥173.19 billion, and total operating expenses grew 6.4% on an annual basis to ¥183.09 billion from ¥172.06 billion.

The company said reported net income increased 53.2% year over year to ¥944.0 million, or ¥40.95 per share, in the full year, from ¥616.0 million, or ¥26.72 per share.

As of June 21, US$1 was equivalent to ¥104.55.