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Sanyo Housing Nagoya fiscal Q4 profit falls YOY

Sanyo Housing Nagoya Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Aug. 31 came to ¥44.37 per share, a decline of 6.9% from ¥47.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥657.5 million, a decrease of 6.7% from ¥705.0 million in the prior-year period.

The normalized profit margin dropped to 5.5% from 5.7% in the year-earlier period.

Total revenue decreased on an annual basis to ¥11.91 billion from ¥12.34 billion, and total operating expenses declined on an annual basis to ¥10.91 billion from ¥11.26 billion.

Reported net income came to ¥695.4 million, or ¥46.90 per share, compared to ¥700.6 million, or ¥47.36 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥73.54 per share, a decline of 27.6% from ¥101.60 per share in the prior year.

Normalized net income was ¥1.09 billion, a decrease of 27.5% from ¥1.50 billion in the prior year.

Full-year total revenue decreased 6.6% year over year to ¥34.74 billion from ¥37.20 billion, and total operating expenses declined 5.0% on an annual basis to ¥33.21 billion from ¥34.97 billion.

The company said reported net income fell 25.9% year over year to ¥1.08 billion, or ¥73.05 per share, in the full year, from ¥1.46 billion, or ¥98.89 per share.

As of Nov. 26, US$1 was equivalent to ¥122.54.