Ichirokudo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥16.45 per share, a decrease of 9.7% from ¥18.22 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥159.4 million, a decline of 7.9% from ¥173.1 million in the prior-year period.

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

Total revenue rose on an annual basis to ¥2.66 billion from ¥2.55 billion, and total operating expenses increased 5.8% on an annual basis to ¥2.43 billion from ¥2.29 billion.

Reported net income increased 32.4% on an annual basis to ¥93.3 million, or ¥9.63 per share, from ¥70.4 million, or ¥7.41 per share.

For the year, the company's normalized net income totaled ¥41.89 per share, a gain of 17.5% from ¥35.64 per share in the prior year.

Normalized net income was ¥403.1 million, a gain of 19.0% from ¥338.8 million in the prior year.

Full-year total revenue grew on an annual basis to ¥9.59 billion from ¥9.31 billion, and total operating expenses grew on an annual basis to ¥9.14 billion from ¥8.93 billion.

The company said reported net income increased 76.0% year over year to ¥305.9 million, or ¥31.78 per share, in the full year, from ¥173.8 million, or ¥18.28 per share.

As of May 29, US$1 was equivalent to ¥124.15.