Subaru Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥84.90 per share, a decline of 27.0% from ¥116.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥65.54 billion, a decline of 27.8% from ¥90.74 billion in the prior-year period.

The normalized profit margin dropped to 7.3% from 11.2% in the year-earlier period.

Total revenue rose 10.4% year over year to ¥898.10 billion from ¥813.63 billion, and total operating expenses climbed 16.2% from the prior-year period to ¥795.01 billion from ¥684.23 billion.

Reported net income declined 24.3% year over year to ¥74.84 billion, or ¥96.95 per share, from ¥98.86 billion, or ¥126.68 per share.

For the year, the company's normalized net income totaled ¥323.75 per share, compared to EPS of ¥464.88 in the prior year.

Normalized net income was ¥249.92 billion, a decline from ¥362.78 billion in the prior year.

Full-year total revenue increased from the prior-year period to ¥3.326 trillion from ¥3.232 trillion, and total operating expenses rose year over year to ¥2.916 trillion from ¥2.667 trillion.

The company said reported net income fell year over year to ¥282.35 billion, or ¥365.77 per share, in the full year, from ¥436.65 billion, or ¥559.54 per share.

As of Sept. 28, US$1 was equivalent to ¥112.73.