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Nihon Seimitsu fiscal Q4 profit falls YOY

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.