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Maxvalu Tokai fiscal Q4 profit falls YOY

Maxvalu Tokai Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥61.82 per share, compared with ¥62.22 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.10 billion, compared with ¥1.11 billion in the year-earlier period.

The normalized profit margin fell to 2.1% from 2.2% in the year-earlier period.

Total revenue climbed year over year to ¥53.36 billion from ¥51.30 billion, and total operating expenses rose year over year to ¥51.68 billion from ¥49.54 billion.

Reported net income decreased 31.8% from the prior-year period to ¥641.1 million, or ¥36.01 per share, from ¥940.4 million, or ¥52.84 per share.

For the year, the company's normalized net income totaled ¥128.88 per share, a gain of 8.5% from ¥118.78 per share in the prior year.

Normalized net income was ¥2.29 billion, a gain of 8.6% from ¥2.11 billion in the prior year.

Full-year total revenue grew on an annual basis to ¥208.67 billion from ¥201.85 billion, and total operating expenses rose on an annual basis to ¥205.38 billion from ¥198.64 billion.

The company said reported net income decreased 19.6% on an annual basis to ¥1.27 billion, or ¥71.25 per share, in the full year, from ¥1.58 billion, or ¥88.61 per share.

As of May 25, US$1 was equivalent to ¥121.48.