Saibo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥7.29 per share, a decline of 66.1% from ¥21.50 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥97.0 million, a decline of 66.1% from ¥286.5 million in the prior-year period.

The normalized profit margin declined to 5.1% from 12.9% in the year-earlier period.

Total revenue decreased 13.8% on an annual basis to ¥1.92 billion from ¥2.22 billion, and total operating expenses declined 10.1% from the prior-year period to ¥1.72 billion from ¥1.91 billion.

Reported net income grew 6.9% year over year to ¥109.3 million, or ¥8.19 per share, from ¥102.2 million, or ¥7.66 per share.

For the year, the company's normalized net income totaled ¥56.37 per share, a decline of 16.0% from ¥67.15 per share in the prior year.

Normalized net income was ¥750.4 million, a decrease of 16.4% from ¥897.3 million in the prior year.

Full-year total revenue declined on an annual basis to ¥7.98 billion from ¥8.15 billion, and total operating expenses declined on an annual basis to ¥6.93 billion from ¥7.05 billion.

The company said reported net income increased 61.7% on an annual basis to ¥795.4 million, or ¥59.76 per share, in the full year, from ¥491.9 million, or ¥36.80 per share.

As of June 26, US$1 was equivalent to ¥123.96.