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Misawa & Co. fiscal Q4 profit falls YOY

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Misawa & Co. fiscal Q4 profit falls YOY

Misawa & Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was ¥9.11 per share, a decrease of 27.7% from ¥12.60 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥60.6 million, a decline of 27.6% from ¥83.8 million in the prior-year period.

The normalized profit margin declined to 3.2% from 4.7% in the year-earlier period.

Total revenue increased 7.5% on an annual basis to ¥1.91 billion from ¥1.78 billion, and total operating expenses rose 12.2% year over year to ¥1.83 billion from ¥1.63 billion.

Reported net income increased 28.6% year over year to ¥73.5 million, or ¥11.05 per share, from ¥57.2 million, or ¥8.60 per share.

For the year, the company's normalized net income totaled ¥62.14 per share, a gain of 36.2% from ¥45.63 per share in the prior year.

Normalized net income was ¥413.1 million, a rise of 36.3% from ¥303.1 million in the prior year.

Full-year total revenue grew 20.9% on an annual basis to ¥7.64 billion from ¥6.32 billion, and total operating expenses increased 20.2% on an annual basis to ¥7.00 billion from ¥5.82 billion.

The company said reported net income grew 57.4% on an annual basis to ¥369.7 million, or ¥55.61 per share, in the full year, from ¥234.9 million, or ¥35.36 per share.

As of April 27, US$1 was equivalent to ¥119.12.