AppBank Co. Ltd. said its normalized net income for the fourth quarter amounted to ¥98.1 million.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin was 9.9%.

Total revenue totaled ¥993.0 million, and total operating expenses came to ¥818.0 million.

Reported net income totaled ¥98.4 million, or ¥10.37 per share.

For the year, the company's normalized net income totaled ¥74.86 per share, a gain of 57.9% from ¥47.41 per share in the prior year.

Normalized net income was ¥538.1 million, a gain of 67.2% from ¥321.9 million in the prior year.

Full-year total revenue grew 31.7% year over year to ¥3.97 billion from ¥3.01 billion, and total operating expenses increased 23.6% on an annual basis to ¥3.07 billion from ¥2.48 billion.

The company said reported net income rose 68.1% on an annual basis to ¥551.4 million, or ¥76.71 per share, in the full year, from ¥328.0 million, or ¥48.31 per share.

As of March 29, US$1 was equivalent to ¥113.44.