Mamiya-OP Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥15.66 per share, a decline of 61.4% from ¥40.53 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥146.1 million, a decrease of 61.5% from ¥379.5 million in the prior-year period.

The normalized profit margin dropped to 3.3% from 6.2% in the year-earlier period.

Total revenue fell 28.7% on an annual basis to ¥4.37 billion from ¥6.14 billion, and total operating expenses fell 24.6% from the prior-year period to ¥4.21 billion from ¥5.58 billion.

Reported net income came to a loss of ¥112.9 million, or a loss of ¥12.09 per share, compared to income of ¥246.3 million, or ¥26.31 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥79.34 per share, a decrease of 61.5% from ¥205.92 per share in the prior year.

Normalized net income was ¥742.4 million, a decline of 61.5% from ¥1.93 billion in the prior year.

Full-year total revenue declined 8.0% year over year to ¥21.14 billion from ¥22.97 billion, and total operating expenses came to ¥20.05 billion, compared with ¥20.10 billion in the year-earlier period.

The company said reported net income decreased 71.3% on an annual basis to ¥509.0 million, or ¥54.40 per share, in the full year, from ¥1.77 billion, or ¥189.60 per share.

As of June 29, US$1 was equivalent to ¥122.67.