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Sagami Rubber Industries fiscal Q4 profit climbs 61.0% YOY

Sagami Rubber Industries Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥14.72 per share, a gain of 61.0% from ¥9.14 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥160.0 million, a gain of 61.0% from ¥99.4 million in the prior-year period.

The normalized profit margin increased to 12.2% from 9.5% in the year-earlier period.

Total revenue grew 25.5% year over year to ¥1.31 billion from ¥1.05 billion, and total operating expenses grew 15.8% year over year to ¥1.12 billion from ¥970.0 million.

Reported net income increased from the prior-year period to ¥187.0 million, or ¥17.20 per share, from ¥92.0 million, or ¥8.46 per share.

For the year, the company's normalized net income totaled ¥43.86 per share, an increase of 29.3% from ¥33.93 per share in the prior year.

Normalized net income was ¥476.8 million, an increase of 29.2% from ¥368.9 million in the prior year.

Full-year total revenue rose 14.6% year over year to ¥4.93 billion from ¥4.30 billion, and total operating expenses grew 7.2% year over year to ¥4.24 billion from ¥3.96 billion.

The company said reported net income grew 33.8% on an annual basis to ¥546.0 million, or ¥50.23 per share, in the full year, from ¥408.0 million, or ¥37.52 per share.

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