Happinet Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥2.61 per share, compared with a loss of ¥4.04 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 ¥60.0 million, compared with a loss of ¥91.3 million in the year-earlier period.

The normalized profit margin rose to negative 0.1% from negative 0.2% in the year-earlier period.

Total revenue increased year over year to ¥42.91 billion from ¥41.41 billion, and total operating expenses increased on an annual basis to ¥43.00 billion from ¥41.54 billion.

Reported net income came to ¥54.2 million, or ¥2.36 per share, compared to a loss of ¥157.2 million, or a loss of ¥6.95 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥139.32 per share, a gain of 29.9% from ¥107.27 per share in the prior year.

Normalized net income was ¥3.20 billion, a gain of 30.9% from ¥2.45 billion in the prior year.

Full-year total revenue rose 5.0% year over year to ¥217.23 billion from ¥206.87 billion, and total operating expenses grew year over year to ¥212.18 billion from ¥203.00 billion.

The company said reported net income rose 64.2% on an annual basis to ¥4.05 billion, or ¥176.16 per share, in the full year, from ¥2.47 billion, or ¥108.13 per share.

As of June 24, US$1 was equivalent to ¥124.31.