Zoa Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥16.80 per share, a decline of 36.4% from ¥26.40 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥35.0 million, a decrease of 36.4% from ¥55.0 million in the year-earlier period.

The normalized profit margin climbed to 1.5% from 1.2% in the year-earlier period.

Total revenue declined 48.6% year over year to ¥2.29 billion from ¥4.46 billion, and total operating expenses fell 48.8% on an annual basis to ¥2.24 billion from ¥4.37 billion.

Reported net income decreased 27.1% year over year to ¥35.0 million, or ¥16.80 per share, from ¥48.0 million, or ¥23.04 per share.

For the year, the company's normalized net income totaled ¥45.31 per share, a fall of 13.7% from ¥52.51 per share in the prior year.

Normalized net income was ¥94.4 million, a decline of 13.7% from ¥109.4 million in the prior year.

Full-year total revenue fell 30.7% from the prior-year period to ¥9.63 billion from ¥13.90 billion, and total operating expenses fell 30.9% on an annual basis to ¥9.48 billion from ¥13.72 billion.

The company said reported net income fell 8.8% on an annual basis to ¥93.0 million, or ¥44.65 per share, in the full year, from ¥102.0 million, or ¥48.97 per share.

As of June 19, US$1 was equivalent to ¥122.78.