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Ezaki Glico swings to profit in fiscal Q4

Ezaki Glico Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥14.50 per share, compared with a loss of ¥14.10 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥950.8 million, compared with a loss of ¥923.5 million in the year-earlier period.

The normalized profit margin rose to 1.3% from negative 1.3% in the year-earlier period.

Total revenue increased 8.7% year over year to ¥75.20 billion from ¥69.20 billion, and total operating expenses grew 5.3% on an annual basis to ¥73.70 billion from ¥69.98 billion.

Reported net income rose 56.7% on an annual basis to ¥2.12 billion, or ¥32.30 per share, from ¥1.35 billion, or ¥20.64 per share.

For the year, the company's normalized net income totaled ¥156.26 per share, an increase of 28.3% from ¥121.77 per share in the prior year.

Normalized net income was ¥10.24 billion, an increase of 35.9% from ¥7.54 billion in the prior year.

Full-year total revenue increased year over year to ¥319.39 billion from ¥315.40 billion, and total operating expenses totaled ¥305.26 billion, compared with ¥303.90 billion in the prior-year period.

The company said reported net income grew 91.0% on an annual basis to ¥21.07 billion, or ¥321.35 per share, in the full year, from ¥11.03 billion, or ¥178.17 per share.

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