Chubu Shiryo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥20.64 per share, a decrease of 45.1% from ¥37.60 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥621.8 million, a decrease of 37.3% from ¥991.9 million in the year-earlier period.

The normalized profit margin fell to 1.4% from 2.7% in the year-earlier period.

Total revenue grew 20.0% year over year to ¥44.30 billion from ¥36.93 billion, and total operating expenses rose 22.4% year over year to ¥43.35 billion from ¥35.41 billion.

Reported net income declined 14.3% year over year to ¥558.0 million, or ¥18.52 per share, from ¥651.0 million, or ¥24.68 per share.

For the year, the company's normalized net income totaled ¥82.68 per share, a gain of 16.3% from ¥71.08 per share in the prior year.

Normalized net income was ¥2.38 billion, a gain of 27.0% from ¥1.87 billion in the prior year.

Full-year total revenue grew 9.8% year over year to ¥170.17 billion from ¥154.98 billion, and total operating expenses grew 9.5% on an annual basis to ¥166.59 billion from ¥152.19 billion.

The company said reported net income grew 61.6% year over year to ¥2.61 billion, or ¥90.66 per share, in the full year, from ¥1.61 billion, or ¥61.26 per share.

As of June 30, US$1 was equivalent to ¥102.42.