Workman Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥29.53 per share, a decrease of 13.2% from ¥34.00 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.21 billion, a decline of 13.2% from ¥1.39 billion in the prior-year period.

The normalized profit margin dropped to 11.7% from 12.4% in the year-earlier period.

Total revenue decreased 7.8% on an annual basis to ¥10.32 billion from ¥11.19 billion, and total operating expenses fell 6.3% year over year to ¥8.69 billion from ¥9.27 billion.

Reported net income fell year over year to ¥1.47 billion, or ¥35.93 per share, from ¥1.51 billion, or ¥36.96 per share.

For the year, the company's normalized net income totaled ¥145.02 per share, compared with ¥145.52 per share in the prior year.

Normalized net income was ¥5.92 billion, compared with ¥5.94 billion in the prior year.

Full-year total revenue totaled ¥48.43 billion, compared with ¥48.14 billion in the prior year, and total operating expenses totaled ¥40.09 billion, compared with ¥39.76 billion in the prior-year period.

The company said reported net income rose 5.2% year over year to ¥5.88 billion, or ¥144.00 per share, in the full year, from ¥5.59 billion, or ¥136.89 per share.

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