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HouseFreedom Q4 profit falls YOY

4984814 said its fourth-quarter normalized net income was ¥11.10 per share, a decline of 81.4% from ¥59.59 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥45.6 million, a decrease of 81.4% from ¥245.0 million in the year-earlier period.

The normalized profit margin declined to 2.0% from 8.5% in the year-earlier period.

Total revenue fell 22.0% on an annual basis to ¥2.25 billion from ¥2.88 billion, and total operating expenses decreased 12.2% year over year to ¥2.17 billion from ¥2.47 billion.

Reported net income declined 75.6% from the prior-year period to ¥58.0 million, or ¥14.11 per share, from ¥238.0 million, or ¥57.89 per share.

For the year, the company's normalized net income totaled ¥14.75 per share, a decrease of 71.0% from ¥50.95 per share in the prior year.

Normalized net income was ¥60.6 million, a decrease of 71.0% from ¥209.4 million in the prior year.

Full-year total revenue fell 11.2% from the prior-year period to ¥6.06 billion from ¥6.82 billion, and total operating expenses decreased 7.9% on an annual basis to ¥5.94 billion from ¥6.44 billion.

he company said reported net income fell 68.4 HouseFreedom Co. Ltd..