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Fuji Nihon Seito swings to loss in fiscal Q4

Fuji Nihon Seito Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of 49 Japanese sen per share, compared with ¥1.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥13.3 million, compared with income of ¥45.0 million in the year-earlier period.

The normalized profit margin declined to negative 0.3% from 0.9% in the year-earlier period.

Total revenue declined 7.0% on an annual basis to ¥4.41 billion from ¥4.74 billion, and total operating expenses declined 6.2% on an annual basis to ¥4.47 billion from ¥4.76 billion.

Reported net income came to a loss of ¥16.0 million, or a loss of 60 sen per share, compared to income of ¥31.0 million, or ¥1.15 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥22.38 per share, a fall of 8.5% from ¥24.46 per share in the prior year.

Normalized net income was ¥601.0 million, a decrease of 8.6% from ¥657.4 million in the prior year.

Full-year total revenue fell 5.5% year over year to ¥19.04 billion from ¥20.16 billion, and total operating expenses fell year over year to ¥18.39 billion from ¥19.34 billion.

The company said reported net income fell on an annual basis to ¥568.0 million, or ¥21.15 per share, in the full year, from ¥594.0 million, or ¥22.10 per share.

As of June 19, US$1 was equivalent to ¥122.78.