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Fuji Oil Holdings fiscal Q4 profit falls YOY

Fuji Oil Holdings Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥18.69 per share, a decrease of 8.5% from ¥20.43 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.61 billion, a decrease of 8.5% from ¥1.76 billion in the year-earlier period.

The normalized profit margin dropped to 2.3% from 2.7% in the year-earlier period.

Total revenue grew 8.7% on an annual basis to ¥70.33 billion from ¥64.73 billion, and total operating expenses climbed 8.6% from the prior-year period to ¥66.94 billion from ¥61.64 billion.

Reported net income increased 27.6% on an annual basis to ¥1.90 billion, or ¥22.05 per share, from ¥1.49 billion, or ¥17.28 per share.

For the year, the company's normalized net income totaled ¥93.10 per share, a fall of 9.2% from ¥102.51 per share in the prior year.

Normalized net income was ¥8.00 billion, a decline of 9.2% from ¥8.81 billion in the prior year.

Full-year total revenue increased 7.5% year over year to ¥271.90 billion from ¥253.00 billion, and total operating expenses grew 8.4% on an annual basis to ¥257.69 billion from ¥237.76 billion.

The company said reported net income increased 14.3% on an annual basis to ¥9.33 billion, or ¥108.54 per share, in the full year, from ¥8.16 billion, or ¥94.97 per share.

As of June 23, US$1 was equivalent to ¥123.88.