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Sankyo Seiko fiscal Q4 profit climbs 11.1% YOY

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Sankyo Seiko fiscal Q4 profit climbs 11.1% YOY

Sankyo Seiko Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥12.29 per share, a gain of 11.1% from ¥11.05 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥556.1 million, a gain of 11.1% from ¥500.4 million in the prior-year period.

The normalized profit margin increased to 5.9% from 5.0% in the year-earlier period.

Total revenue fell 7.0% year over year to ¥9.38 billion from ¥10.09 billion, and total operating expenses fell 8.5% from the prior-year period to ¥8.58 billion from ¥9.38 billion.

Reported net income grew year over year to ¥1.05 billion, or ¥23.15 per share, from ¥423.0 million, or ¥9.35 per share.

For the year, the company's normalized net income totaled ¥52.28 per share, a gain of 5.4% from ¥49.62 per share in the prior year.

Normalized net income was ¥2.37 billion, a gain of 5.4% from ¥2.25 billion in the prior year.

Full-year total revenue declined 5.6% on an annual basis to ¥38.20 billion from ¥40.46 billion, and total operating expenses decreased 6.1% on an annual basis to ¥34.94 billion from ¥37.23 billion.

The company said reported net income increased 31.4% on an annual basis to ¥3.21 billion, or ¥70.88 per share, in the full year, from ¥2.44 billion, or ¥53.95 per share.

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