AP Co. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥27.13 per share, a decrease from ¥28.33 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥201.5 million, a decline from ¥210.4 million in the year-earlier period.

The normalized profit margin declined to 4.1% from 4.9% in the year-earlier period.

Total revenue grew 14.0% on an annual basis to ¥4.88 billion from ¥4.29 billion, and total operating expenses grew 15.9% on an annual basis to ¥4.62 billion from ¥3.98 billion.

Reported net income increased 29.3% year over year to ¥225.0 million, or ¥30.29 per share, from ¥174.0 million, or ¥23.43 per share.

For the year, the company's normalized net income totaled ¥125.91 per share, a gain of 20.3% from ¥104.65 per share in the prior year.

Normalized net income was ¥935.1 million, a gain of 20.3% from ¥777.3 million in the prior year.

Full-year total revenue increased 21.8% year over year to ¥19.23 billion from ¥15.79 billion, and total operating expenses increased 21.7% on an annual basis to ¥17.97 billion from ¥14.77 billion.

The company said reported net income rose 34.2% on an annual basis to ¥906.0 million, or ¥121.99 per share, in the full year, from ¥675.0 million, or ¥90.88 per share.

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