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Makita fiscal Q4 profit climbs YOY

Makita Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥34.42 per share, an increase from ¥33.06 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.34 billion, an increase from ¥8.98 billion in the prior-year period.

The normalized profit margin fell to 8.6% from 9.0% in the year-earlier period.

Total revenue increased 9.2% on an annual basis to ¥108.68 billion from ¥99.53 billion, and total operating expenses rose 10.5% year over year to ¥93.73 billion from ¥84.82 billion.

Reported net income increased 15.9% on an annual basis to ¥10.10 billion, or ¥37.17 per share, from ¥8.71 billion, or ¥32.10 per share.

For the year, the company's normalized net income totaled ¥147.76 per share, compared to EPS of ¥149.42 in the prior year.

Normalized net income was ¥40.12 billion, a decrease from ¥40.57 billion in the prior year.

Full-year total revenue declined year over year to ¥415.00 billion from ¥423.62 billion, and total operating expenses fell year over year to ¥352.44 billion from ¥358.95 billion.

The company said reported net income rose on an annual basis to ¥44.80 billion, or ¥164.96 per share, in the full year, from ¥41.62 billion, or ¥153.30 per share.

As of June 29, US$1 was equivalent to ¥112.60.