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Toyo Sugar Refining fiscal Q4 profit climbs 69.4% YOY

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Toyo Sugar Refining fiscal Q4 profit climbs 69.4% YOY

Toyo Sugar Refining Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥20.97 per share, an increase of 69.4% from ¥12.38 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥114.4 million, an increase of 69.4% from ¥67.5 million in the year-earlier period.

The normalized profit margin rose to 3.3% from 1.9% in the year-earlier period.

Total revenue came to ¥3.51 billion, compared with ¥3.50 billion in the prior-year period, and total operating expenses fell on an annual basis to ¥3.36 billion from ¥3.40 billion.

Reported net income totaled ¥121.0 million, or ¥22.19 per share, compared to a loss of ¥1.15 billion, or a loss of ¥211.43 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥82.98 per share, a gain of 9.7% from ¥75.64 per share in the prior year.

Normalized net income was ¥452.5 million, an increase of 9.7% from ¥412.5 million in the prior year.

Full-year total revenue totaled ¥14.47 billion, compared with ¥14.42 billion in the prior year, and total operating expenses totaled ¥13.86 billion, compared with ¥13.81 billion in the year-earlier period.

The company said reported net income totaled ¥528.0 million, or ¥96.82 per share, in the full year, compared with a loss of ¥781.0 million, or a loss of ¥143.21 per share, the prior year.

As of June 23, US$1 was equivalent to ¥105.69.