The Royal Hotel, Ltd said its normalized net income for the fiscal fourth quarter ended March 31 was ¥5.32 per share, a gain from ¥5.25 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥230.6 million, a gain from ¥53.8 million in the year-earlier period.

The normalized profit margin increased to 2.0% from 0.5% in the year-earlier period.

Total revenue decreased year over year to ¥11.38 billion from ¥11.57 billion, and total operating expenses decreased from the prior-year period to ¥10.95 billion from ¥11.40 billion.

Reported net income came to ¥4.10 billion, or ¥94.75 per share, compared to a loss of ¥24.8 million, or a loss of ¥2.44 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥32.24 per share, a fall from ¥32.60 per share in the prior year.

Normalized net income was ¥596.9 million, an increase of 25.7% from ¥475.0 million in the prior year.

Full-year total revenue declined from the prior-year period to ¥44.69 billion from ¥45.38 billion, and total operating expenses fell year over year to ¥43.42 billion from ¥44.22 billion.

The company said reported net income increased on an annual basis to ¥2.70 billion, or ¥145.60 per share, in the full year, from ¥562.4 million, or ¥38.60 per share.

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