Kisoji Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥11.49 per share, a decrease of 56.8% from ¥26.59 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥296.9 million, a decrease of 56.8% from ¥686.9 million in the prior-year period.

The normalized profit margin declined to 2.6% from 5.6% in the year-earlier period.

Total revenue declined 7.5% on an annual basis to ¥11.42 billion from ¥12.35 billion, and total operating expenses decreased year over year to ¥10.94 billion from ¥11.22 billion.

Reported net income totaled a loss of ¥10.0 million, or a loss of 39 sen per share, compared to income of ¥606.0 million, or ¥23.46 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥6.65 per share, a decline of 80.7% from ¥34.42 per share in the prior year.

Normalized net income was ¥171.9 million, a fall of 80.7% from ¥889.4 million in the prior year.

Full-year total revenue decreased 5.0% from the prior-year period to ¥43.43 billion from ¥45.72 billion, and total operating expenses fell year over year to ¥43.20 billion from ¥44.33 billion.

The company said reported net income totaled a loss of ¥601.0 million, or a loss of ¥23.26 per share, in the full year, compared with income of ¥612.0 million, or ¥23.69 per share, the prior year.

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