Tachi-S Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥46.74 per share, a gain of 84.3% from ¥25.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.69 billion, an increase of 82.7% from ¥924.4 million in the prior-year period.

The normalized profit margin climbed to 2.3% from 1.5% in the year-earlier period.

Total revenue climbed 17.4% year over year to ¥72.73 billion from ¥61.96 billion, and total operating expenses rose 15.3% year over year to ¥70.06 billion from ¥60.74 billion.

Reported net income rose from the prior-year period to ¥1.90 billion, or ¥52.56 per share, from ¥274.0 million, or ¥7.52 per share.

For the year, the company's normalized net income totaled ¥54.06 per share, a decrease from ¥55.68 per share in the prior year.

Normalized net income was ¥1.97 billion, a decrease from ¥2.03 billion in the prior year.

Full-year total revenue increased 14.2% from the prior-year period to ¥250.94 billion from ¥219.66 billion, and total operating expenses grew 14.2% year over year to ¥249.27 billion from ¥218.32 billion.

The company said reported net income fell 45.8% on an annual basis to ¥882.0 million, or ¥24.26 per share, in the full year, from ¥1.63 billion, or ¥44.65 per share.

As of June 24, US$1 was equivalent to ¥124.31.