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Yasunaga swings to loss in fiscal Q4

Yasunaga Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of 42 Japanese sen per share, compared with ¥19.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥5.0 million, compared with income of ¥237.5 million in the year-earlier period.

The normalized profit margin fell to negative 0.1% from 2.7% in the year-earlier period.

Total revenue fell 12.9% year over year to ¥7.66 billion from ¥8.79 billion, and total operating expenses decreased 8.0% from the prior-year period to ¥7.82 billion from ¥8.50 billion.

Reported net income fell 95.9% on an annual basis to ¥13.0 million, or ¥1.09 per share, from ¥317.0 million, or ¥26.50 per share.

For the year, the company's normalized net income totaled ¥17.66 per share, a decline of 50.2% from ¥35.47 per share in the prior year.

Normalized net income was ¥211.3 million, a decrease of 50.2% from ¥424.4 million in the prior year.

Full-year total revenue fell 5.8% on an annual basis to ¥29.61 billion from ¥31.44 billion, and total operating expenses fell on an annual basis to ¥29.56 billion from ¥30.85 billion.

The company said reported net income fell 77.1% on an annual basis to ¥86.0 million, or ¥7.19 per share, in the full year, from ¥375.0 million, or ¥31.35 per share.

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