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Matsumotokiyoshi Holdings fiscal Q4 profit falls YOY

Matsumotokiyoshi Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥35.60 per share, a decrease of 13.9% from ¥41.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.82 billion, a decrease of 15.3% from ¥4.51 billion in the year-earlier period.

The normalized profit margin dropped to 3.1% from 3.4% in the year-earlier period.

Total revenue declined 7.4% year over year to ¥122.96 billion from ¥132.85 billion, and total operating expenses decreased 6.9% year over year to ¥117.34 billion from ¥126.03 billion.

Reported net income grew 9.2% on an annual basis to ¥4.02 billion, or ¥37.45 per share, from ¥3.68 billion, or ¥33.76 per share.

For the year, the company's normalized net income totaled ¥115.25 per share, a decrease of 17.4% from ¥139.54 per share in the prior year.

Normalized net income was ¥12.43 billion, a decline of 18.5% from ¥15.24 billion in the prior year.

Full-year total revenue fell from the prior-year period to ¥485.51 billion from ¥495.38 billion, and total operating expenses fell year over year to ¥467.88 billion from ¥472.94 billion.

The company said reported net income decreased 13.0% year over year to ¥11.62 billion, or ¥107.77 per share, in the full year, from ¥13.36 billion, or ¥122.30 per share.

As of June 26, US$1 was equivalent to ¥123.96.