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Art Vivant fiscal Q4 profit falls YOY

Art Vivant Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥5.50 per share, a decline of 65.2% from ¥15.77 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥71.9 million, a decline of 65.2% from ¥206.3 million in the year-earlier period.

The normalized profit margin dropped to 5.3% from 13.2% in the year-earlier period.

Total revenue declined 14.0% year over year to ¥1.34 billion from ¥1.56 billion, and total operating expenses increased from the prior-year period to ¥1.25 billion from ¥1.23 billion.

Reported net income came to a loss of ¥24.0 million, or a loss of ¥1.84 per share, compared to income of ¥169.0 million, or ¥12.92 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥46.36 per share, a decrease of 25.7% from ¥62.42 per share in the prior year.

Normalized net income was ¥606.3 million, a fall of 25.7% from ¥816.3 million in the prior year.

Full-year total revenue decreased on an annual basis to ¥5.70 billion from ¥5.96 billion, and total operating expenses rose 5.1% on an annual basis to ¥4.99 billion from ¥4.75 billion.

The company said reported net income declined 34.0% on an annual basis to ¥506.0 million, or ¥38.69 per share, in the full year, from ¥767.0 million, or ¥58.65 per share.

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