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Toray Industries fiscal Q4 profit falls YOY

Toray Industries Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥10.22 per share, a decline of 10.3% from ¥11.39 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥16.36 billion, a decline of 10.3% from ¥18.23 billion in the prior-year period.

The normalized profit margin fell to 3.1% from 3.5% in the year-earlier period.

Total revenue grew year over year to ¥534.32 billion from ¥524.16 billion, and total operating expenses climbed from the prior-year period to ¥501.62 billion from ¥487.80 billion.

Reported net income rose 61.5% year over year to ¥22.54 billion, or ¥14.08 per share, from ¥13.96 billion, or ¥8.72 per share.

For the year, the company's normalized net income totaled ¥52.04 per share, compared to EPS of ¥54.23 in the prior year.

Normalized net income was ¥83.31 billion, a decrease from ¥86.81 billion in the prior year.

Full-year total revenue decreased year over year to ¥2.026 trillion from ¥2.104 trillion, and total operating expenses decreased on an annual basis to ¥1.880 trillion from ¥1.950 trillion.

The company said reported net income rose year over year to ¥99.42 billion, or ¥62.10 per share, in the full year, from ¥90.13 billion, or ¥56.31 per share.

As of June 27, US$1 was equivalent to ¥112.23.