Tokyo Radiator Mfg. Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥12.88 per share, a decline of 36.8% from ¥20.38 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥185.4 million, a decrease of 36.8% from ¥293.3 million in the year-earlier period.

The normalized profit margin declined to 2.4% from 4.1% in the year-earlier period.

Total revenue climbed 6.7% on an annual basis to ¥7.58 billion from ¥7.10 billion, and total operating expenses climbed 9.1% from the prior-year period to ¥7.33 billion from ¥6.72 billion.

Reported net income decreased 22.1% from the prior-year period to ¥236.0 million, or ¥16.40 per share, from ¥303.0 million, or ¥21.06 per share.

For the year, the company's normalized net income totaled ¥80.12 per share, an increase from ¥77.75 per share in the prior year.

Normalized net income was ¥1.15 billion, a rise from ¥1.12 billion in the prior year.

Full-year total revenue rose 9.8% year over year to ¥30.77 billion from ¥28.03 billion, and total operating expenses increased 9.5% on an annual basis to ¥28.90 billion from ¥26.40 billion.

The company said reported net income rose 13.9% year over year to ¥1.34 billion, or ¥93.48 per share, in the full year, from ¥1.18 billion, or ¥82.08 per share.

As of June 26, US$1 was equivalent to ¥123.96.