Mitsui Sugar Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥48.58 per share, an increase of 9.8% from ¥44.25 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.30 billion, an increase of 10.0% from ¥1.18 billion in the year-earlier period.

The normalized profit margin increased to 5.5% from 5.0% in the year-earlier period.

Total revenue totaled ¥23.42 billion, compared with ¥23.57 billion in the prior-year period, and total operating expenses grew year over year to ¥22.87 billion from ¥22.64 billion.

Reported net income grew 55.8% from the prior-year period to ¥1.28 billion, or ¥47.99 per share, from ¥823.0 million, or ¥30.86 per share.

For the year, the company's normalized net income totaled ¥214.93 per share, an increase from ¥211.38 per share in the prior year.

Normalized net income was ¥5.73 billion, a rise from ¥5.64 billion in the prior year.

Full-year total revenue totaled ¥96.11 billion, compared with ¥96.89 billion in the prior year, and total operating expenses came to ¥92.25 billion, compared with ¥91.67 billion in the year-earlier period.

The company said reported net income increased 8.5% year over year to ¥5.71 billion, or ¥213.91 per share, in the full year, from ¥5.26 billion, or ¥197.31 per share.

As of June 23, US$1 was equivalent to ¥123.88.