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Gourmet Kineya fiscal Q4 profit falls YOY

Gourmet Kineya Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to 77 Japanese sen per share, a decrease of 74.6% from ¥3.02 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.4 million, a decline of 74.4% from ¥67.8 million in the prior-year period.

The normalized profit margin dropped to 0.2% from 0.8% in the year-earlier period.

Total revenue climbed year over year to ¥8.89 billion from ¥8.56 billion, and total operating expenses increased on an annual basis to ¥8.85 billion from ¥8.45 billion.

Reported net income came to ¥509.0 million, or ¥22.54 per share, compared to a loss of ¥1.0 million, or a loss of 4 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥4.23 per share, a fall of 53.3% from ¥9.05 per share in the prior year.

Normalized net income was ¥95.0 million, a decline of 53.2% from ¥202.9 million in the prior year.

Full-year total revenue increased on an annual basis to ¥36.78 billion from ¥35.44 billion, and total operating expenses grew on an annual basis to ¥36.62 billion from ¥35.11 billion.

The company said reported net income came to ¥588.0 million, or ¥26.20 per share, in the full year, compared with a loss of ¥138.0 million, or a loss of ¥6.16 per share, the prior year.

As of June 25, US$1 was equivalent to ¥123.71.