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Nissin Kogyo fiscal Q4 profit falls YOY

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Nissin Kogyo fiscal Q4 profit falls YOY

Nissin Kogyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥39.18 per share, a decrease of 12.8% from ¥44.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.54 billion, a decrease of 12.7% from ¥2.91 billion in the prior-year period.

The normalized profit margin declined to 4.1% from 5.0% in the year-earlier period.

Total revenue rose 5.1% on an annual basis to ¥61.70 billion from ¥58.70 billion, and total operating expenses grew 5.6% from the prior-year period to ¥55.95 billion from ¥52.99 billion.

Reported net income declined 12.4% from the prior-year period to ¥3.31 billion, or ¥50.97 per share, from ¥3.78 billion, or ¥58.23 per share.

For the year, the company's normalized net income totaled ¥123.21 per share, a fall of 15.0% from ¥145.04 per share in the prior year.

Normalized net income was ¥8.00 billion, a decrease of 15.0% from ¥9.40 billion in the prior year.

Full-year total revenue increased from the prior-year period to ¥227.84 billion from ¥220.87 billion, and total operating expenses grew year over year to ¥210.25 billion from ¥201.45 billion.

The company said reported net income declined 14.4% year over year to ¥10.45 billion, or ¥160.93 per share, in the full year, from ¥12.20 billion, or ¥188.14 per share.

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