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Kyokuyo swings to loss in fiscal Q4

Kyokuyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥1.25 per share, compared with ¥12.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥14.3 million, compared with income of ¥126.1 million in the year-earlier period.

The normalized profit margin declined to negative 0.0% from 0.3% in the year-earlier period.

Total revenue totaled ¥47.74 billion, compared with ¥48.21 billion in the year-earlier period, and total operating expenses came to ¥47.84 billion, compared with ¥48.09 billion in the year-earlier period.

Reported net income totaled ¥665.4 million, or ¥58.40 per share, compared to a loss of ¥372.6 million, or a loss of ¥35.51 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥158.05 per share, an increase of 31.4% from ¥120.29 per share in the prior year.

Normalized net income was ¥1.80 billion, a gain of 31.4% from ¥1.37 billion in the prior year.

Full-year total revenue increased year over year to ¥226.63 billion from ¥218.35 billion, and total operating expenses rose year over year to ¥224.02 billion from ¥215.94 billion.

The company said reported net income declined 26.1% on an annual basis to ¥1.80 billion, or ¥157.90 per share, in the full year, from ¥2.43 billion, or ¥213.60 per share.

As of June 24, US$1 was equivalent to ¥102.09.