Kakiyasu Honten Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥54.82 per share, a gain of 37.7% from ¥39.81 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥649.4 million, a gain of 37.6% from ¥471.9 million in the year-earlier period.

The normalized profit margin increased to 5.3% from 3.9% in the year-earlier period.

Total revenue climbed on an annual basis to ¥12.25 billion from ¥12.07 billion, and total operating expenses decreased on an annual basis to ¥11.22 billion from ¥11.34 billion.

Reported net income increased 48.0% on an annual basis to ¥601.0 million, or ¥50.73 per share, from ¥406.0 million, or ¥34.25 per share.

For the year, the company's normalized net income totaled ¥134.96 per share, an increase of 20.2% from ¥112.32 per share in the prior year.

Normalized net income was ¥1.60 billion, an increase of 16.2% from ¥1.38 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥43.47 billion from ¥42.55 billion, and total operating expenses rose on an annual basis to ¥40.95 billion from ¥40.38 billion.

The company said reported net income increased 15.0% year over year to ¥1.31 billion, or ¥110.75 per share, in the full year, from ¥1.14 billion, or ¥93.17 per share.

As of May 28, US$1 was equivalent to ¥124.24.