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Musashi Seimitsu fiscal Q4 profit falls YOY

Musashi Seimitsu Industry Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥50.09 per share, a decline of 11.0% from ¥56.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.71 billion, a decline of 11.0% from ¥1.92 billion in the year-earlier period.

The normalized profit margin fell to 4.1% from 4.6% in the year-earlier period.

Total revenue totaled ¥41.72 billion, compared with ¥41.59 billion in the prior-year period, and total operating expenses came to ¥38.05 billion, compared with ¥38.07 billion in the prior-year period.

Reported net income fell 42.1% from the prior-year period to ¥587.0 million, or ¥17.21 per share, from ¥1.01 billion, or ¥29.74 per share.

For the year, the company's normalized net income totaled ¥177.95 per share, a decrease of 6.1% from ¥189.48 per share in the prior year.

Normalized net income was ¥6.07 billion, a fall of 6.1% from ¥6.46 billion in the prior year.

Full-year total revenue increased year over year to ¥164.40 billion from ¥158.21 billion, and total operating expenses grew on an annual basis to ¥151.00 billion from ¥146.62 billion.

The company said reported net income rose 6.7% year over year to ¥6.80 billion, or ¥199.50 per share, in the full year, from ¥6.37 billion, or ¥186.89 per share.

As of June 24, US$1 was equivalent to ¥102.09.