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Keihin fiscal Q4 profit falls YOY

Keihin Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥15.61 per share, a decline of 63.2% from ¥42.39 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.15 billion, a decrease of 63.2% from ¥3.14 billion in the year-earlier period.

The normalized profit margin fell to 1.4% from 3.3% in the year-earlier period.

Total revenue decreased 10.6% year over year to ¥83.75 billion from ¥93.66 billion, and total operating expenses decreased 9.7% on an annual basis to ¥79.95 billion from ¥88.58 billion.

Reported net income declined 85.8% from the prior-year period to ¥821.0 million, or ¥11.10 per share, from ¥5.76 billion, or ¥77.91 per share.

For the year, the company's normalized net income totaled ¥142.96 per share, an increase of 10.2% from ¥129.71 per share in the prior year.

Normalized net income was ¥10.57 billion, an increase of 10.2% from ¥9.59 billion in the prior year.

Full-year total revenue fell 6.4% on an annual basis to ¥327.07 billion from ¥349.37 billion, and total operating expenses fell 7.6% year over year to ¥304.57 billion from ¥329.71 billion.

The company said reported net income decreased 9.8% on an annual basis to ¥11.05 billion, or ¥149.42 per share, in the full year, from ¥12.26 billion, or ¥165.74 per share.

As of June 19, US$1 was equivalent to ¥122.78.