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Zwei fiscal Q4 profit falls YOY

Zwei Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥25.43 per share, a decline from ¥26.34 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥100.6 million, a decrease from ¥104.1 million in the year-earlier period.

The normalized profit margin climbed to 10.4% from 10.3% in the year-earlier period.

Total revenue declined on an annual basis to ¥967.0 million from ¥1.01 billion, and total operating expenses declined on an annual basis to ¥812.0 million from ¥846.0 million.

Reported net income fell on an annual basis to ¥72.3 million, or ¥18.27 per share, from ¥74.3 million, or ¥18.80 per share.

For the year, the company's normalized net income totaled ¥40.89 per share, a decline of 21.1% from ¥51.79 per share in the prior year.

Normalized net income was ¥161.8 million, a fall of 21.0% from ¥204.6 million in the prior year.

Full-year total revenue fell 8.0% on an annual basis to ¥3.79 billion from ¥4.12 billion, and total operating expenses declined 7.3% year over year to ¥3.57 billion from ¥3.85 billion.

The company said reported net income rose 6.2% year over year to ¥157.3 million, or ¥39.77 per share, in the full year, from ¥148.1 million, or ¥37.49 per share.

As of May 22, US$1 was equivalent to ¥121.48.