Yoshinoya Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to ¥22.08 per share, a decline of 18.5% from ¥27.09 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.40 billion, compared with ¥1.39 billion in the year-earlier period.

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

Total revenue increased year over year to ¥47.24 billion from ¥45.76 billion, and total operating expenses rose year over year to ¥45.14 billion from ¥43.93 billion.

Reported net income decreased 52.5% year over year to ¥463.0 million, or ¥7.32 per share, from ¥974.0 million, or ¥18.95 per share.

For the year, the company's normalized net income totaled ¥44.80 per share, an increase of 8.6% from ¥41.24 per share in the prior year.

Normalized net income was ¥2.60 billion, a rise of 22.5% from ¥2.12 billion in the prior year.

Full-year total revenue increased year over year to ¥180.03 billion from ¥173.42 billion, and total operating expenses grew year over year to ¥176.52 billion from ¥171.24 billion.

The company said reported net income increased 34.8% year over year to ¥941.0 million, or ¥16.23 per share, in the full year, from ¥698.0 million, or ¥13.58 per share.

As of May 22, US$1 was equivalent to ¥121.48.