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Hikari Furniture fiscal Q4 profit climbs 8.3% YOY

Hikari Furniture Co., Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥100.84 per share, an increase of 8.4% from ¥93.06 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥356.9 million, a gain of 8.3% from ¥329.4 million in the year-earlier period.

The normalized profit margin rose to 15.7% from 14.8% in the year-earlier period.

Total revenue increased on an annual basis to ¥2.28 billion from ¥2.23 billion, and total operating expenses totaled ¥1.71 billion, compared with ¥1.71 billion in the year-earlier period.

Reported net income fell 73.2% on an annual basis to ¥56.0 million, or ¥15.82 per share, from ¥209.0 million, or ¥59.05 per share.

For the year, the company's normalized net income totaled ¥439.74 per share, a gain of 17.3% from ¥374.89 per share in the prior year.

Normalized net income was ¥1.56 billion, an increase of 17.3% from ¥1.33 billion in the prior year.

Full-year total revenue amounted to ¥8.83 billion, compared with ¥8.77 billion in the prior year, and total operating expenses fell year over year to ¥6.38 billion from ¥6.67 billion.

The company said reported net income totaled ¥1.42 billion, or ¥401.52 per share, in the full year, compared with ¥1.42 billion, or ¥400.64 per share, the prior year.

As of June 29, US$1 was equivalent to ¥122.67.