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H-One swings to loss in fiscal Q4

H-One Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥5.27 per share, compared with ¥19.70 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥149.8 million, compared with income of ¥558.3 million in the prior-year period.

The normalized profit margin dropped to negative 0.3% from 1.2% in the year-earlier period.

Total revenue rose year over year to ¥49.05 billion from ¥46.80 billion, and total operating expenses rose 6.7% on an annual basis to ¥48.82 billion from ¥45.74 billion.

Reported net income totaled a loss of ¥22.0 million, or a loss of 77 sen per share, compared to income of ¥358.0 million, or ¥12.63 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥22.16 per share, a decrease of 81.5% from ¥120.04 per share in the prior year.

Normalized net income was ¥629.3 million, a decline of 79.5% from ¥3.07 billion in the prior year.

Full-year total revenue increased year over year to ¥185.75 billion from ¥179.94 billion, and total operating expenses rose 5.3% on an annual basis to ¥183.52 billion from ¥174.30 billion.

The company said reported net income fell 91.6% on an annual basis to ¥292.0 million, or ¥10.28 per share, in the full year, from ¥3.50 billion, or ¥136.58 per share.

As of June 24, US$1 was equivalent to ¥124.31.