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Wakou Shokuhin fiscal Q4 loss narrows YOY

Wakou Shokuhin Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥47.32 per share, compared with a loss of ¥82.43 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥38.8 million, compared with a loss of ¥67.5 million in the prior-year period.

The normalized profit margin climbed to negative 2.8% from negative 5.8% in the year-earlier period.

Total revenue grew 19.6% year over year to ¥1.40 billion from ¥1.17 billion, and total operating expenses grew 16.7% on an annual basis to ¥1.47 billion from ¥1.26 billion.

Reported net income totaled a loss of ¥70.0 million, or a loss of ¥85.49 per share, compared to a loss of ¥91.0 million, or a loss of ¥111.13 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥237.38 per share, a gain of 76.7% from ¥134.33 per share in the prior year.

Normalized net income was ¥194.4 million, an increase of 76.7% from ¥110.0 million in the prior year.

Full-year total revenue grew 9.5% on an annual basis to ¥6.06 billion from ¥5.53 billion, and total operating expenses rose 9.0% on an annual basis to ¥5.94 billion from ¥5.45 billion.

The company said reported net income increased 57.0% year over year to ¥124.0 million, or ¥151.43 per share, in the full year, from ¥79.0 million, or ¥96.48 per share.

As of June 25, US$1 was equivalent to ¥123.71.