Yamaki Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥9.15 per share, a decline of 48.5% from ¥17.74 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥106.3 million, a decrease of 21.2% from ¥134.9 million in the year-earlier period.

The normalized profit margin declined to 2.0% from 3.2% in the year-earlier period.

Total revenue rose 27.6% year over year to ¥5.34 billion from ¥4.18 billion, and total operating expenses grew 31.8% from the prior-year period to ¥5.15 billion from ¥3.90 billion.

Reported net income came to a loss of ¥3.3 million, or a loss of 26 sen per share, compared to income of ¥123.5 million, or ¥16.25 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥22.39 per share, an increase from ¥6.69 per share in the prior year.

Normalized net income was ¥202.3 million, a gain from ¥50.5 million in the prior year.

Full-year total revenue grew 5.1% on an annual basis to ¥17.44 billion from ¥16.59 billion, and total operating expenses rose on an annual basis to ¥17.23 billion from ¥16.50 billion.

The company said reported net income rose year over year to ¥347.9 million, or ¥38.51 per share, in the full year, from ¥92.5 million, or ¥12.21 per share.

As of June 25, US$1 was equivalent to ¥123.71.