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Dainichi fiscal Q4 loss narrows YOY

Dainichi Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥33.68 per share, compared with a loss of ¥37.75 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥595.6 million, compared with a loss of ¥667.5 million in the year-earlier period.

The normalized profit margin rose to negative 50.7% from negative 95.1% in the year-earlier period.

Total revenue rose 67.2% year over year to ¥1.17 billion from ¥702.0 million, and total operating expenses rose 23.3% year over year to ¥2.17 billion from ¥1.76 billion.

Reported net income came to a loss of ¥795.0 million, or a loss of ¥44.96 per share, compared to a loss of ¥748.0 million, or a loss of ¥42.30 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥15.30 per share, an increase of 7.4% from ¥14.24 per share in the prior year.

Normalized net income was ¥270.6 million, a gain of 7.4% from ¥251.9 million in the prior year.

Full-year total revenue fell year over year to ¥17.28 billion from ¥17.59 billion, and total operating expenses decreased on an annual basis to ¥16.91 billion from ¥17.22 billion.

The company said reported net income fell 28.1% on an annual basis to ¥207.0 million, or ¥11.71 per share, in the full year, from ¥288.0 million, or ¥16.29 per share.

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