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Higashi Nihon House fiscal Q4 profit climbs 20.1% YOY

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Higashi Nihon House fiscal Q4 profit climbs 20.1% YOY

Nihon House Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Oct. 31, 2015, was ¥38.03 per share, an increase of 20.1% from ¥31.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.74 billion, an increase of 20.1% from ¥1.45 billion in the year-earlier period.

The normalized profit margin climbed to 10.7% from 8.8% in the year-earlier period.

Total revenue totaled ¥16.38 billion, compared with ¥16.54 billion in the year-earlier period, and total operating expenses decreased year over year to ¥13.52 billion from ¥14.08 billion.

Reported net income increased 7.9% on an annual basis to ¥2.38 billion, or ¥51.95 per share, from ¥2.21 billion, or ¥48.14 per share.

For the year, the company's normalized net income totaled ¥44.38 per share, a decrease from ¥46.51 per share in the prior year.

Normalized net income was ¥2.04 billion, a decrease from ¥2.13 billion in the prior year.

Full-year total revenue declined year over year to ¥50.13 billion from ¥52.71 billion, and total operating expenses fell year over year to ¥46.52 billion from ¥48.87 billion.

The company said reported net income declined 14.7% on an annual basis to ¥2.71 billion, or ¥59.19 per share, in the full year, from ¥3.18 billion, or ¥69.42 per share.

As of Jan. 28, US$1 was equivalent to ¥118.74.