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Kobe Bussan fiscal Q4 profit climbs YOY

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Kobe Bussan fiscal Q4 profit climbs YOY

Kobe Bussan Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Oct. 31, 2016, was ¥72.25 per share, an increase from ¥23.61 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.91 billion, an increase from ¥672.4 million in the year-earlier period.

The normalized profit margin climbed to 3.2% from 1.1% in the year-earlier period.

Total revenue increased year over year to ¥60.26 billion from ¥58.97 billion, and total operating expenses came to ¥56.65 billion, compared with ¥57.07 billion in the year-earlier period.

Reported net income grew year over year to ¥1.94 billion, or ¥73.52 per share, from ¥311.0 million, or ¥10.92 per share.

For the year, the company's normalized net income totaled ¥238.68 per share, an increase of 44.1% from ¥165.63 per share in the prior year.

Normalized net income was ¥6.32 billion, a gain of 38.0% from ¥4.58 billion in the prior year.

Full-year total revenue increased from the prior-year period to ¥239.27 billion from ¥228.59 billion, and total operating expenses increased on an annual basis to ¥227.43 billion from ¥221.79 billion.

The company said reported net income rose 11.1% on an annual basis to ¥4.56 billion, or ¥172.32 per share, in the full year, from ¥4.11 billion, or ¥148.60 per share.

As of Jan. 30, US$1 was equivalent to ¥113.84.