Tokyo Individualized Educational Institute Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to ¥13.91 per share, a gain of 28.8% from ¥10.80 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥755.0 million, an increase of 28.8% from ¥586.3 million in the prior-year period.

The normalized profit margin increased to 15.7% from 13.4% in the year-earlier period.

Total revenue increased 9.8% year over year to ¥4.82 billion from ¥4.39 billion, and total operating expenses rose from the prior-year period to ¥3.62 billion from ¥3.46 billion.

Reported net income rose 41.3% year over year to ¥776.0 million, or ¥14.29 per share, from ¥549.0 million, or ¥10.11 per share.

For the year, the company's normalized net income totaled ¥19.89 per share, a gain of 35.4% from ¥14.69 per share in the prior year.

Normalized net income was ¥1.08 billion, a rise of 35.4% from ¥797.5 million in the prior year.

Full-year total revenue grew 9.7% on an annual basis to ¥15.72 billion from ¥14.32 billion, and total operating expenses rose 7.2% on an annual basis to ¥13.99 billion from ¥13.05 billion.

The company said reported net income increased 45.9% year over year to ¥1.07 billion, or ¥19.80 per share, in the full year, from ¥737.0 million, or ¥13.57 per share.

As of May 28, US$1 was equivalent to ¥124.24.