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Nippon Seiki fiscal Q4 profit falls YOY

Nippon Seiki Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥5.82 per share, a decline of 85.9% from ¥41.40 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥333.8 million, a decline of 85.9% from ¥2.37 billion in the prior-year period.

The normalized profit margin declined to 0.5% from 3.9% in the year-earlier period.

Total revenue increased year over year to ¥63.31 billion from ¥61.03 billion, and total operating expenses rose 5.3% year over year to ¥59.81 billion from ¥56.82 billion.

Reported net income decreased 96.4% year over year to ¥94.2 million, or ¥1.64 per share, from ¥2.64 billion, or ¥46.10 per share.

For the year, the company's normalized net income totaled ¥161.49 per share, a fall of 32.3% from ¥238.68 per share in the prior year.

Normalized net income was ¥9.26 billion, a decrease of 32.3% from ¥13.68 billion in the prior year.

Full-year total revenue increased 7.3% from the prior-year period to ¥243.61 billion from ¥226.96 billion, and total operating expenses rose 7.1% year over year to ¥225.52 billion from ¥210.52 billion.

The company said reported net income decreased 36.8% on an annual basis to ¥9.14 billion, or ¥159.48 per share, in the full year, from ¥14.47 billion, or ¥252.33 per share.

As of June 29, US$1 was equivalent to ¥102.64.