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NHK Spring fiscal Q4 profit climbs 25.8% YOY

NHK Spring Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥26.15 per share, an increase of 21.3% from ¥21.57 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.59 billion, a gain of 25.8% from ¥5.24 billion in the prior-year period.

The normalized profit margin rose to 4.1% from 3.4% in the year-earlier period.

Total revenue increased 6.5% year over year to ¥161.84 billion from ¥151.91 billion, and total operating expenses rose 6.0% year over year to ¥151.43 billion from ¥142.81 billion.

Reported net income increased 50.3% on an annual basis to ¥4.90 billion, or ¥19.46 per share, from ¥3.26 billion, or ¥13.43 per share.

For the year, the company's normalized net income totaled ¥93.30 per share, a decrease of 7.9% from ¥101.34 per share in the prior year.

Normalized net income was ¥23.11 billion, a decline of 6.1% from ¥24.62 billion in the prior year.

Full-year total revenue grew 5.6% year over year to ¥601.43 billion from ¥569.71 billion, and total operating expenses rose 6.9% on an annual basis to ¥569.21 billion from ¥532.23 billion.

The company said reported net income fell year over year to ¥23.87 billion, or ¥96.39 per share, in the full year, from ¥24.68 billion, or ¥101.59 per share.

As of June 29, US$1 was equivalent to ¥122.67.