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Meiko Network Japan fiscal Q4 profit falls YOY

Meiko Network Japan Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Aug. 31 was ¥30.81 per share, a decrease from ¥32.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥818.3 million, a decrease of 8.2% from ¥891.5 million in the year-earlier period.

The normalized profit margin declined to 14.6% from 15.7% in the year-earlier period.

Total revenue decreased year over year to ¥5.60 billion from ¥5.67 billion, and total operating expenses climbed on an annual basis to ¥4.35 billion from ¥4.25 billion.

Reported net income declined 9.9% on an annual basis to ¥796.0 million, or ¥29.98 per share, from ¥883.0 million, or ¥31.99 per share.

For the year, the company's normalized net income totaled ¥53.52 per share, a decline of 35.9% from ¥83.45 per share in the prior year.

Normalized net income was ¥1.43 billion, a decrease of 37.8% from ¥2.30 billion in the prior year.

Full-year total revenue amounted to ¥18.67 billion, compared with ¥18.77 billion in the prior year, and total operating expenses increased 8.4% year over year to ¥16.50 billion from ¥15.21 billion.

The company said reported net income fell 60.2% year over year to ¥944.0 million, or ¥35.25 per share, in the full year, from ¥2.37 billion, or ¥85.82 per share.

As of Nov. 22, US$1 was equivalent to ¥111.26.