Zwei Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 29 came to ¥20.20 per share, a decrease of 20.6% from ¥25.43 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥80.0 million, a decline of 20.5% from ¥100.6 million in the year-earlier period.

The normalized profit margin declined to 8.2% from 10.4% in the year-earlier period.

Total revenue totaled ¥973.0 million, compared with ¥967.0 million in the prior-year period, and total operating expenses rose from the prior-year period to ¥840.0 million from ¥812.0 million.

Reported net income rose 7.5% year over year to ¥77.7 million, or ¥19.57 per share, from ¥72.3 million, or ¥18.27 per share.

For the year, the company's normalized net income totaled ¥26.64 per share, a decline of 34.8% from ¥40.89 per share in the prior year.

Normalized net income was ¥105.5 million, a fall of 34.8% from ¥161.8 million in the prior year.

Full-year total revenue increased from the prior-year period to ¥3.89 billion from ¥3.79 billion, and total operating expenses increased year over year to ¥3.75 billion from ¥3.57 billion.

The company said reported net income fell 46.1% year over year to ¥84.8 million, or ¥21.36 per share, in the full year, from ¥157.3 million, or ¥39.77 per share.

As of May 25, US$1 was equivalent to ¥110.27.