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Toyota Boshoku fiscal Q4 profit climbs 27.8% YOY

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Toyota Boshoku fiscal Q4 profit climbs 27.8% YOY

Toyota Boshoku Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥26.09 per share, a gain of 27.7% from ¥20.42 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.83 billion, an increase of 27.8% from ¥3.78 billion in the prior-year period.

The normalized profit margin climbed to 1.4% from 1.2% in the year-earlier period.

Total revenue grew 7.9% year over year to ¥353.42 billion from ¥327.45 billion, and total operating expenses climbed 7.5% from the prior-year period to ¥343.64 billion from ¥319.77 billion.

Reported net income decreased 80.5% on an annual basis to ¥449.0 million, or ¥2.42 per share, from ¥2.31 billion, or ¥12.44 per share.

For the year, the company's normalized net income totaled ¥111.68 per share, a gain of 19.0% from ¥93.87 per share in the prior year.

Normalized net income was ¥20.70 billion, a rise of 19.0% from ¥17.39 billion in the prior year.

Full-year total revenue rose 7.1% on an annual basis to ¥1.306 trillion from ¥1.218 trillion, and total operating expenses increased 7.0% year over year to ¥1.274 trillion from ¥1.190 trillion.

The company said reported net income declined 58.7% on an annual basis to ¥5.20 billion, or ¥28.08 per share, in the full year, from ¥12.61 billion, or ¥68.05 per share.

As of June 15, US$1 was equivalent to ¥123.50.