Nihon Seimitsu Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 25 Japanese sen per share, a decrease of 87.5% from ¥2.01 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.4 million, a decline of 85.7% from ¥30.6 million in the year-earlier period.

The normalized profit margin fell to 0.2% from 1.7% in the year-earlier period.

Total revenue climbed 12.3% year over year to ¥2.02 billion from ¥1.80 billion, and total operating expenses grew 16.2% year over year to ¥2.01 billion from ¥1.73 billion.

For the year, the company's normalized net income totaled ¥8.58 per share, a gain of 69.9% from ¥5.05 per share in the prior year.

Normalized net income was ¥137.5 million, a rise of 78.9% from ¥76.9 million in the prior year.

Full-year total revenue rose 11.7% from the prior-year period to ¥7.88 billion from ¥7.05 billion, and total operating expenses rose 12.6% year over year to ¥7.79 billion from ¥6.92 billion.

The company said reported net income grew 64.0% year over year to ¥187.0 million, or ¥11.67 per share, in the full year, from ¥114.0 million, or ¥7.49 per share.

As of June 26, US$1 was equivalent to ¥123.96.