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Exedy fiscal Q4 profit falls YOY

Exedy Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥45.69 per share, a decrease of 7.3% from ¥49.31 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.19 billion, a decline of 7.3% from ¥2.37 billion in the year-earlier period.

Total revenue rose 7.5% year over year to ¥66.85 billion from ¥62.19 billion, and total operating expenses rose 8.4% from the prior-year period to ¥62.78 billion from ¥57.91 billion.

Reported net income decreased 28.8% from the prior-year period to ¥1.61 billion, or ¥33.53 per share, from ¥2.26 billion, or ¥47.12 per share.

For the year, the company's normalized net income totaled ¥235.23 per share, a decline of 8.2% from ¥256.22 per share in the prior year.

Normalized net income was ¥11.29 billion, a decline of 8.2% from ¥12.30 billion in the prior year.

Full-year total revenue increased 9.3% from the prior-year period to ¥256.01 billion from ¥234.26 billion, and total operating expenses rose 10.8% year over year to ¥238.12 billion from ¥214.82 billion.

The company said reported net income fell 22.5% on an annual basis to ¥9.50 billion, or ¥197.94 per share, in the full year, from ¥12.27 billion, or ¥255.58 per share.

As of July 6, US$1 was equivalent to ¥122.73.