Nagahori Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥1.18 per share, a decrease of 90.0% from ¥11.82 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.1 million, a decrease of 90.0% from ¥181.3 million in the prior-year period.

The normalized profit margin dropped to 0.4% from 3.1% in the year-earlier period.

Total revenue fell 17.7% year over year to ¥4.84 billion from ¥5.88 billion, and total operating expenses declined 13.7% year over year to ¥4.81 billion from ¥5.58 billion.

Reported net income came to a loss of ¥10.0 million, or a loss of 65 sen per share, compared to income of ¥105.0 million, or ¥6.85 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of 61 sen per share, compared with ¥28.73 per share in the prior year.

Normalized net income was a loss of ¥9.4 million, compared with income of ¥440.6 million in the prior year.

Full-year total revenue declined 7.5% year over year to ¥20.24 billion from ¥21.88 billion, and total operating expenses decreased year over year to ¥20.25 billion from ¥21.13 billion.

The company said reported net income decreased 93.2% on an annual basis to ¥34.0 million, or ¥2.22 per share, in the full year, from ¥501.0 million, or ¥32.67 per share.

As of June 25, US$1 was equivalent to ¥123.71.