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Cawachi fiscal Q4 profit falls YOY

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Cawachi fiscal Q4 profit falls YOY

Cawachi Ltd said its normalized net income for the fiscal fourth quarter ended March 15 was ¥10.38 per share, a decline of 82.7% from ¥60.04 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥240.0 million, a decline of 82.7% from ¥1.39 billion in the prior-year period.

The normalized profit margin fell to 0.4% from 2.2% in the year-earlier period.

Total revenue decreased year over year to ¥61.85 billion from ¥63.49 billion, and total operating expenses came to ¥61.73 billion, compared with ¥61.51 billion in the year-earlier period.

Reported net income came to ¥222.0 million, or ¥9.60 per share, compared to a loss of ¥1.31 billion, or a loss of ¥56.44 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥102.33 per share, a fall of 53.5% from ¥220.22 per share in the prior year.

Normalized net income was ¥2.37 billion, a fall of 53.6% from ¥5.10 billion in the prior year.

Full-year total revenue rose 6.4% from the prior-year period to ¥258.32 billion from ¥242.68 billion, and total operating expenses grew 8.5% year over year to ¥255.69 billion from ¥235.62 billion.

The company said reported net income totaled a loss of ¥4.67 billion, or a loss of ¥202.09 per share, in the full year, compared with income of ¥2.01 billion, or ¥87.08 per share, the prior year.

As of June 15, US$1 was equivalent to ¥123.50.