Yoshinoya Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 29 was ¥9.55 per share, a decline of 56.7% from ¥22.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥616.4 million, a decline of 55.9% from ¥1.40 billion in the year-earlier period.

The normalized profit margin dropped to 1.3% from 3.0% in the year-earlier period.

Total revenue totaled ¥47.12 billion, compared with ¥47.24 billion in the year-earlier period, and total operating expenses rose on an annual basis to ¥46.35 billion from ¥45.14 billion.

Reported net income rose 41.0% on an annual basis to ¥653.0 million, or ¥10.12 per share, from ¥463.0 million, or ¥7.32 per share.

For the year, the company's normalized net income totaled ¥23.11 per share, a fall of 48.4% from ¥44.80 per share in the prior year.

Normalized net income was ¥1.48 billion, a decline of 43.1% from ¥2.60 billion in the prior year.

Full-year total revenue rose from the prior-year period to ¥185.74 billion from ¥180.03 billion, and total operating expenses grew on an annual basis to ¥184.12 billion from ¥176.52 billion.

The company said reported net income fell 11.1% year over year to ¥837.0 million, or ¥13.09 per share, in the full year, from ¥941.0 million, or ¥16.23 per share.

As of May 20, US$1 was equivalent to ¥110.47.