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G.taste fiscal Q4 profit falls YOY

G.taste Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was 59 Japanese sen per share, a decrease of 22.9% from 76 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥111.9 million, a decrease of 12.3% from ¥127.5 million in the year-earlier period.

The normalized profit margin fell to 1.6% from 1.9% in the year-earlier period.

Total revenue came to ¥6.84 billion, compared with ¥6.82 billion in the year-earlier period, and total operating expenses totaled ¥6.65 billion, compared with ¥6.62 billion in the prior-year period.

Reported net income came to a loss of ¥12.1 million, or a loss of 7 sen per share, compared to a loss of ¥200.6 million, or a loss of ¥1.21 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥2.31 per share, a decline of 9.7% from ¥2.56 per share in the prior year.

Normalized net income was ¥563.1 million, a rise of 8.4% from ¥519.4 million in the prior year.

Full-year total revenue rose 17.9% from the prior-year period to ¥27.98 billion from ¥23.74 billion, and total operating expenses increased 18.1% year over year to ¥27.04 billion from ¥22.89 billion.

The company said reported net income fell 5.3% on an annual basis to ¥634.0 million, or ¥2.60 per share, in the full year, from ¥669.3 million, or ¥3.30 per share.

As of June 26, US$1 was equivalent to ¥123.96.