King Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥11.52 per share, a decline of 16.4% from ¥13.79 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥222.5 million, a decrease of 16.6% from ¥266.9 million in the prior-year period.

The normalized profit margin fell to 6.0% from 6.8% in the year-earlier period.

Total revenue decreased 5.3% on an annual basis to ¥3.73 billion from ¥3.94 billion, and total operating expenses fell on an annual basis to ¥3.44 billion from ¥3.58 billion.

Reported net income fell 29.4% from the prior-year period to ¥161.0 million, or ¥8.34 per share, from ¥228.0 million, or ¥11.78 per share.

For the year, the company's normalized net income totaled ¥43.54 per share, a fall of 13.9% from ¥50.58 per share in the prior year.

Normalized net income was ¥841.3 million, a fall of 14.2% from ¥980.6 million in the prior year.

Full-year total revenue fell 5.4% from the prior-year period to ¥12.77 billion from ¥13.50 billion, and total operating expenses fell year over year to ¥11.71 billion from ¥12.23 billion.

The company said reported net income fell 14.7% year over year to ¥780.0 million, or ¥40.37 per share, in the full year, from ¥914.0 million, or ¥47.14 per share.

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