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Rizap Group fiscal Q4 profit falls YOY

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Rizap Group fiscal Q4 profit falls YOY

Rizap Group Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥1.61 per share, a decline of 27.2% from ¥2.21 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥398.0 million, a decrease of 27.2% from ¥546.4 million in the year-earlier period.

The normalized profit margin dropped to 3.7% from 6.5% in the year-earlier period.

Total revenue climbed 26.9% year over year to ¥10.74 billion from ¥8.46 billion, and total operating expenses rose 32.6% on an annual basis to ¥10.03 billion from ¥7.56 billion.

Reported net income decreased 35.3% on an annual basis to ¥465.1 million, or ¥1.88 per share, from ¥719.0 million, or ¥2.91 per share.

For the year, the company's normalized net income totaled ¥4.55 per share, a gain of 34.2% from ¥3.39 per share in the prior year.

Normalized net income was ¥1.12 billion, a gain of 34.2% from ¥837.0 million in the prior year.

Full-year total revenue increased 63.5% on an annual basis to ¥39.10 billion from ¥23.91 billion, and total operating expenses increased 62.4% year over year to ¥36.99 billion from ¥22.78 billion.

The company said reported net income fell 39.3% on an annual basis to ¥1.64 billion, or ¥6.63 per share, in the full year, from ¥2.70 billion, or ¥10.93 per share.

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