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TOA Corp. fiscal Q4 profit falls YOY

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TOA Corp. fiscal Q4 profit falls YOY

TOA Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥31.09 per share, a decline of 8.5% from ¥33.99 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.05 billion, a decrease of 8.5% from ¥1.15 billion in the year-earlier period.

The normalized profit margin dropped to 7.1% from 8.5% in the year-earlier period.

Total revenue grew 9.3% on an annual basis to ¥14.81 billion from ¥13.55 billion, and total operating expenses rose 12.0% year over year to ¥12.89 billion from ¥11.51 billion.

Reported net income decreased 5.5% year over year to ¥1.21 billion, or ¥35.64 per share, from ¥1.28 billion, or ¥37.71 per share.

For the year, the company's normalized net income totaled ¥76.90 per share, an increase from ¥73.67 per share in the prior year.

Normalized net income was ¥2.60 billion, a gain from ¥2.49 billion in the prior year.

Full-year total revenue rose 6.5% on an annual basis to ¥45.15 billion from ¥42.41 billion, and total operating expenses rose 7.2% on an annual basis to ¥40.91 billion from ¥38.15 billion.

The company said reported net income grew 9.5% on an annual basis to ¥2.95 billion, or ¥87.02 per share, in the full year, from ¥2.69 billion, or ¥79.49 per share.

As of June 24, US$1 was equivalent to ¥124.31.