Nihon Chouzai Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥87.48 per share, an increase from ¥42.35 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.22 billion, a gain of 99.1% from ¥614.8 million in the prior-year period.

The normalized profit margin increased to 2.6% from 1.5% in the year-earlier period.

Total revenue increased 12.3% year over year to ¥47.46 billion from ¥42.27 billion, and total operating expenses grew 10.3% from the prior-year period to ¥45.43 billion from ¥41.17 billion.

Reported net income increased 97.4% year over year to ¥533.0 million, or ¥38.10 per share, from ¥270.0 million, or ¥18.60 per share.

For the year, the company's normalized net income totaled ¥265.03 per share, a gain of 43.8% from ¥184.33 per share in the prior year.

Normalized net income was ¥3.79 billion, an increase of 41.7% from ¥2.67 billion in the prior year.

Full-year total revenue grew 10.0% year over year to ¥181.84 billion from ¥165.35 billion, and total operating expenses grew 9.1% on an annual basis to ¥175.20 billion from ¥160.60 billion.

The company said reported net income rose 46.1% on an annual basis to ¥2.78 billion, or ¥194.48 per share, in the full year, from ¥1.90 billion, or ¥131.19 per share.

As of June 26, US$1 was equivalent to ¥123.96.