Kagome Co. Ltd. said its normalized net income for the fourth quarter came to ¥16.16 per share, a decrease of 12.3% from ¥18.44 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.59 billion, a decrease of 13.1% from ¥1.83 billion in the year-earlier period.

The normalized profit margin declined to 3.1% from 3.6% in the year-earlier period.

Total revenue grew on an annual basis to ¥51.60 billion from ¥50.41 billion, and total operating expenses rose year over year to ¥49.01 billion from ¥47.93 billion.

Reported net income increased 38.7% year over year to ¥1.91 billion, or ¥19.37 per share, from ¥1.38 billion, or ¥13.84 per share.

For the year, the company's normalized net income totaled ¥67.55 per share, a gain of 48.3% from ¥45.55 per share in the prior year.

Normalized net income was ¥6.69 billion, a rise of 47.9% from ¥4.53 billion in the prior year.

Full-year total revenue rose from the prior-year period to ¥202.53 billion from ¥195.62 billion, and total operating expenses grew year over year to ¥191.59 billion from ¥188.89 billion.

The company said reported net income rose 96.6% year over year to ¥6.76 billion, or ¥68.28 per share, in the full year, from ¥3.44 billion, or ¥34.63 per share.

As of March 17, US$1 was equivalent to ¥112.65.