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Chubu Shiryo fiscal Q4 profit climbs 86.8% YOY

Chubu Shiryo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥37.60 per share, a gain of 86.2% from ¥20.19 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥991.9 million, a gain of 86.8% from ¥530.9 million in the prior-year period.

The normalized profit margin rose to 2.7% from 1.4% in the year-earlier period.

Total revenue decreased year over year to ¥36.93 billion from ¥37.85 billion, and total operating expenses fell from the prior-year period to ¥35.41 billion from ¥37.07 billion.

Reported net income rose 9.0% from the prior-year period to ¥651.0 million, or ¥24.68 per share, from ¥597.0 million, or ¥22.70 per share.

For the year, the company's normalized net income totaled ¥71.08 per share, a gain of 5.5% from ¥67.40 per share in the prior year.

Normalized net income was ¥1.87 billion, an increase of 5.8% from ¥1.77 billion in the prior year.

Full-year total revenue grew from the prior-year period to ¥154.98 billion from ¥152.88 billion, and total operating expenses grew year over year to ¥152.19 billion from ¥150.30 billion.

The company said reported net income decreased 17.0% year over year to ¥1.61 billion, or ¥61.26 per share, in the full year, from ¥1.95 billion, or ¥74.08 per share.

As of June 29, US$1 was equivalent to ¥122.67.