Sanyo Homes Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥108.11 per share, a decrease of 19.3% from ¥134.03 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.36 billion, a decline of 19.3% from ¥1.69 billion in the year-earlier period.
The normalized profit margin dropped to 5.5% from 6.3% in the year-earlier period.
Total revenue decreased 8.4% year over year to ¥24.60 billion from ¥26.86 billion, and total operating expenses decreased 7.0% from the prior-year period to ¥22.38 billion from ¥24.08 billion.
Reported net income decreased 19.5% on an annual basis to ¥1.27 billion, or ¥100.55 per share, from ¥1.58 billion, or ¥124.89 per share.
For the year, the company's normalized net income totaled ¥69.83 per share, a decrease of 43.4% from ¥123.38 per share in the prior year.
Normalized net income was ¥881.3 million, a decline of 43.1% from ¥1.55 billion in the prior year.
Full-year total revenue fell 8.9% from the prior-year period to ¥52.80 billion from ¥57.94 billion, and total operating expenses fell 7.1% on an annual basis to ¥51.30 billion from ¥55.23 billion.
The company said reported net income fell 47.5% on an annual basis to ¥729.0 million, or ¥57.77 per share, in the full year, from ¥1.39 billion, or ¥110.61 per share.
As of June 26, US$1 was equivalent to ¥123.96.