Shirohato Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Aug. 31 was ¥3.24 per share, a decline of 68.0% from ¥10.13 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.5 million, a decline of 68.3% from ¥39.4 million in the prior-year period.

The normalized profit margin fell to 1.0% from 3.3% in the year-earlier period.

Total revenue grew on an annual basis to ¥1.23 billion from ¥1.20 billion, and total operating expenses rose 5.3% on an annual basis to ¥1.20 billion from ¥1.14 billion.

Reported net income fell 64.4% on an annual basis to ¥16.0 million, or ¥4.15 per share, from ¥45.0 million, or ¥11.58 per share.

For the year, the company's normalized net income totaled ¥25.83 per share, an increase from ¥25.06 per share in the prior year.

Normalized net income was ¥99.4 million, an increase from ¥96.3 million in the prior year.

Full-year total revenue grew 9.6% from the prior-year period to ¥4.59 billion from ¥4.19 billion, and total operating expenses grew 9.5% year over year to ¥4.42 billion from ¥4.03 billion.

The company said reported net income grew on an annual basis to ¥102.0 million, or ¥26.51 per share, in the full year, from ¥98.0 million, or ¥25.52 per share.

As of Nov. 30, US$1 was equivalent to ¥113.95.