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East Japan Railway fiscal Q4 profit climbs 76.6% YOY

East Japan Railway Co. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥44.58 per share, an increase of 77.2% from ¥25.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.51 billion, a gain of 76.6% from ¥9.92 billion in the year-earlier period.

The normalized profit margin increased to 2.5% from 1.5% in the year-earlier period.

Total revenue climbed year over year to ¥690.64 billion from ¥671.24 billion, and total operating expenses grew from the prior-year period to ¥649.55 billion from ¥640.90 billion.

Reported net income came to a loss of ¥15.48 billion, or a loss of ¥39.39 per share, compared with income of ¥5.42 billion, or ¥13.74 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥570.88 per share, compared to EPS of ¥521.44 in the prior year.

Normalized net income was ¥224.39 billion, a gain from ¥205.72 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥2.756 trillion from ¥2.703 trillion, and total operating expenses increased year over year to ¥2.329 trillion from ¥2.296 trillion.

The company said reported net income fell on an annual basis to ¥180.40 billion, or ¥458.95 per share, in the full year, from ¥199.94 billion, or ¥506.77 per share.

As of June 23, US$1 was equivalent to ¥123.88.