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Sangetsu fiscal Q4 profit falls YOY

Sangetsu Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥17.00 per share, a decrease of 13.9% from ¥19.75 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.26 billion, a decrease of 16.5% from ¥1.50 billion in the year-earlier period.

The normalized profit margin dropped to 3.6% from 4.1% in the year-earlier period.

Total revenue fell year over year to ¥35.21 billion from ¥36.84 billion, and total operating expenses fell from the prior-year period to ¥33.28 billion from ¥34.50 billion.

Reported net income decreased 8.8% from the prior-year period to ¥1.05 billion, or ¥14.21 per share, from ¥1.15 billion, or ¥15.11 per share.

For the year, the company's normalized net income totaled ¥70.45 per share, a decline of 9.4% from ¥77.72 per share in the prior year.

Normalized net income was ¥5.32 billion, a decrease of 10.2% from ¥5.92 billion in the prior year.

Full-year total revenue totaled ¥132.05 billion, compared with ¥131.98 billion in the prior year, and total operating expenses totaled ¥124.02 billion, compared with ¥123.02 billion in the prior-year period.

The company said reported net income declined 19.4% year over year to ¥4.40 billion, or ¥58.34 per share, in the full year, from ¥5.46 billion, or ¥71.64 per share.

As of June 18, US$1 was equivalent to ¥122.95.