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Morito fiscal Q4 profit falls YOY

Morito Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Nov. 30, 2015, came to ¥10.24 per share, a decline of 32.3% from ¥15.12 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥295.6 million, a decline of 32.5% from ¥438.1 million in the prior-year period.

The normalized profit margin declined to 2.7% from 4.4% in the year-earlier period.

Total revenue grew 9.7% on an annual basis to ¥10.94 billion from ¥9.97 billion, and total operating expenses increased 10.4% from the prior-year period to ¥10.47 billion from ¥9.48 billion.

Reported net income increased year over year to ¥635.0 million, or ¥21.99 per share, from ¥230.0 million, or ¥7.94 per share.

For the year, the company's normalized net income totaled ¥40.37 per share, a gain of 8.2% from ¥37.30 per share in the prior year.

Normalized net income was ¥1.17 billion, a gain of 8.2% from ¥1.08 billion in the prior year.

Full-year total revenue grew 20.7% year over year to ¥43.29 billion from ¥35.86 billion, and total operating expenses increased 20.7% year over year to ¥41.58 billion from ¥34.45 billion.

The company said reported net income rose 12.8% year over year to ¥1.43 billion, or ¥49.46 per share, in the full year, from ¥1.27 billion, or ¥43.83 per share.

As of Feb. 26, US$1 was equivalent to ¥113.94.