G-7 Holdings Inc. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥25.37 per share, a decrease of 40.1% from ¥42.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥308.8 million, a decline of 40.1% from ¥515.6 million in the prior-year period.

The normalized profit margin declined to 1.5% from 2.3% in the year-earlier period.

Total revenue fell 5.9% on an annual basis to ¥21.21 billion from ¥22.54 billion, and total operating expenses fell 4.9% on an annual basis to ¥20.69 billion from ¥21.77 billion.

Reported net income declined 35.2% on an annual basis to ¥140.0 million, or ¥11.50 per share, from ¥216.0 million, or ¥17.75 per share.

For the year, the company's normalized net income totaled ¥131.68 per share, a decline of 19.6% from ¥163.77 per share in the prior year.

Normalized net income was ¥1.60 billion, a decrease of 19.6% from ¥1.99 billion in the prior year.

Full-year total revenue amounted to ¥88.26 billion, compared with ¥88.18 billion in the prior year, and total operating expenses came to ¥85.95 billion, compared with ¥85.28 billion in the year-earlier period.

The company said reported net income fell 17.8% on an annual basis to ¥1.27 billion, or ¥104.03 per share, in the full year, from ¥1.54 billion, or ¥126.62 per share.

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