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F-Tech fiscal Q4 profit climbs YOY

F-Tech Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥40.54 per share, a decrease of 14.6% from ¥47.46 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥757.1 million, an increase from ¥749.4 million in the prior-year period.

The normalized profit margin dropped to 1.5% from 1.6% in the year-earlier period.

Total revenue grew 9.0% year over year to ¥52.20 billion from ¥47.88 billion, and total operating expenses grew 8.5% from the prior-year period to ¥49.84 billion from ¥45.94 billion.

Reported net income grew on an annual basis to ¥1.39 billion, or ¥74.35 per share, from ¥643.3 million, or ¥40.74 per share.

For the year, the company's normalized net income totaled ¥105.71 per share, a decrease of 27.1% from ¥145.00 per share in the prior year.

Normalized net income was ¥1.97 billion, a decrease of 11.9% from ¥2.24 billion in the prior year.

Full-year total revenue rose 11.8% on an annual basis to ¥196.34 billion from ¥175.58 billion, and total operating expenses rose 11.5% year over year to ¥189.52 billion from ¥170.01 billion.

The company said reported net income rose 52.6% on an annual basis to ¥2.70 billion, or ¥144.81 per share, in the full year, from ¥1.77 billion, or ¥114.60 per share.

As of June 21, US$1 was equivalent to ¥104.55.