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Nihon Seima swings to profit in fiscal Q4

Nihon Seima Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥1.06 per share, compared with a loss of 3 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.9 million, compared with a loss of ¥125,000 in the prior-year period.

The normalized profit margin increased to 0.4% from negative 0.0% in the year-earlier period.

Total revenue decreased 15.5% year over year to ¥1.03 billion from ¥1.22 billion, and total operating expenses decreased 15.8% on an annual basis to ¥1.01 billion from ¥1.20 billion.

Reported net income came to ¥15.0 million, or ¥4.09 per share, compared to a loss of ¥24.0 million, or a loss of ¥6.54 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥4.16 per share, a fall of 58.1% from ¥9.92 per share in the prior year.

Normalized net income was ¥15.3 million, a fall of 58.1% from ¥36.4 million in the prior year.

Full-year total revenue decreased 7.3% year over year to ¥4.36 billion from ¥4.70 billion, and total operating expenses decreased 7.2% on an annual basis to ¥4.24 billion from ¥4.57 billion.

The company said reported net income declined 85.5% year over year to ¥18.0 million, or ¥4.91 per share, in the full year, from ¥124.0 million, or ¥33.81 per share.

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