Truck-One Co. Ltd. said its fourth-quarter normalized net income was ¥1.30 per share, a decrease of 57.9% from ¥3.09 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.1 million, a decrease of 58.3% from ¥7.5 million in the prior-year period.

The normalized profit margin fell to 0.3% from 0.8% in the year-earlier period.

Total revenue climbed on an annual basis to ¥930.0 million from ¥894.0 million, and total operating expenses climbed from the prior-year period to ¥925.0 million from ¥883.0 million.

Reported net income declined 77.8% on an annual basis to ¥2.0 million, or 83 sen per share, from ¥9.0 million, or ¥3.71 per share.

For the year, the company's normalized net income totaled ¥12.40 per share, a decline of 10.8% from ¥13.90 per share in the prior year.

Normalized net income was ¥30.0 million, a decrease of 11.1% from ¥33.8 million in the prior year.

Full-year total revenue rose on an annual basis to ¥3.80 billion from ¥3.65 billion, and total operating expenses increased year over year to ¥3.76 billion from ¥3.60 billion.

The company said reported net income grew 45.5% year over year to ¥32.0 million, or ¥13.23 per share, in the full year, from ¥22.0 million, or ¥9.06 per share.

As of March 27, US$1 was equivalent to ¥110.42.