Kachikaihatsu Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥2.79 per share, a gain from ¥1.35 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥37.5 million, a gain from ¥18.1 million in the year-earlier period.

The normalized profit margin rose to 2.7% from 1.3% in the year-earlier period.

Total revenue totaled ¥1.40 billion, compared with ¥1.40 billion in the year-earlier period, and total operating expenses grew on an annual basis to ¥1.41 billion from ¥1.37 billion.

Reported net income fell 96.9% on an annual basis to ¥1.3 million, or 10 sen per share, from ¥43.4 million, or ¥3.24 per share.

For the year, the company's normalized net income totaled ¥9.97 per share, compared with a loss of ¥8.41 per share in the prior year.

Normalized net income was ¥133.8 million, compared with a loss of ¥109.4 million in the prior year.

Full-year total revenue decreased year over year to ¥5.45 billion from ¥5.55 billion, and total operating expenses decreased year over year to ¥5.39 billion from ¥5.61 billion.

The company said reported net income rose 43.2% on an annual basis to ¥124.8 million, or ¥9.30 per share, in the full year, from ¥87.2 million, or ¥6.70 per share.

As of June 26, US$1 was equivalent to ¥123.96.