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Weds Co. fiscal Q4 profit falls YOY

Weds Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥8.10 per share, a decline of 33.4% from ¥12.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥132.9 million, a decrease of 34.0% from ¥201.3 million in the prior-year period.

The normalized profit margin declined to 2.4% from 3.2% in the year-earlier period.

Total revenue decreased 12.0% on an annual basis to ¥5.49 billion from ¥6.25 billion, and total operating expenses fell 9.9% year over year to ¥5.34 billion from ¥5.93 billion.

Reported net income increased on an annual basis to ¥178.0 million, or ¥10.85 per share, from ¥173.0 million, or ¥10.45 per share.

For the year, the company's normalized net income totaled ¥74.25 per share, a decrease of 7.1% from ¥79.95 per share in the prior year.

Normalized net income was ¥1.23 billion, a fall of 7.3% from ¥1.32 billion in the prior year.

Full-year total revenue declined year over year to ¥26.60 billion from ¥27.00 billion, and total operating expenses totaled ¥24.82 billion, compared with ¥24.93 billion in the year-earlier period.

The company said reported net income totaled ¥1.31 billion, or ¥79.23 per share, in the full year, compared with ¥1.30 billion, or ¥78.51 per share, the prior year.

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