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Kanemitsu fiscal Q4 profit climbs 21.3% YOY

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Kanemitsu fiscal Q4 profit climbs 21.3% YOY

Kanemitsu Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥19.51 per share, a gain of 21.3% from ¥16.09 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥99.8 million, a gain of 21.3% from ¥82.3 million in the year-earlier period.

The normalized profit margin rose to 4.7% from 4.3% in the year-earlier period.

Total revenue rose 11.4% year over year to ¥2.13 billion from ¥1.91 billion, and total operating expenses rose 9.9% year over year to ¥1.95 billion from ¥1.77 billion.

Reported net income decreased from the prior-year period to ¥104.0 million, or ¥20.34 per share, from ¥107.0 million, or ¥20.93 per share.

For the year, the company's normalized net income totaled ¥77.72 per share, a gain of 8.3% from ¥71.75 per share in the prior year.

Normalized net income was ¥397.4 million, an increase of 8.3% from ¥366.9 million in the prior year.

Full-year total revenue increased 7.7% on an annual basis to ¥7.96 billion from ¥7.39 billion, and total operating expenses grew 7.8% year over year to ¥7.31 billion from ¥6.78 billion.

The company said reported net income increased 25.7% year over year to ¥538.0 million, or ¥105.22 per share, in the full year, from ¥428.0 million, or ¥83.71 per share.

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