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Boso Oil & Fat swings to profit in fiscal Q4

Boso Oil & Fat Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥39.22 per share, compared with a loss of ¥49.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥61.9 million, compared with a loss of ¥78.8 million in the year-earlier period.

The normalized profit margin rose to 1.3% from negative 1.7% in the year-earlier period.

Total revenue grew 7.2% year over year to ¥4.85 billion from ¥4.52 billion, and total operating expenses grew from the prior-year period to ¥4.74 billion from ¥4.63 billion.

Reported net income came to ¥48.0 million, or ¥30.42 per share, compared to a loss of ¥111.0 million, or a loss of ¥70.35 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥19.81 per share, a decrease of 66.4% from ¥59.02 per share in the prior year.

Normalized net income was ¥31.3 million, a decrease of 66.4% from ¥93.1 million in the prior year.

Full-year total revenue grew year over year to ¥19.30 billion from ¥18.98 billion, and total operating expenses grew year over year to ¥19.24 billion from ¥18.88 billion.

The company said reported net income decreased 80.8% on an annual basis to ¥15.0 million, or ¥9.51 per share, in the full year, from ¥78.0 million, or ¥49.43 per share.

As of June 29, US$1 was equivalent to ¥102.64.