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Nitto Fuji Flour Milling fiscal Q4 profit climbs YOY

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Nitto Fuji Flour Milling fiscal Q4 profit climbs YOY

Nitto Fuji Flour Milling Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥60.68 per share, an increase from ¥21.99 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥278.0 million, a gain from ¥100.8 million in the year-earlier period.

The normalized profit margin climbed to 2.1% from 0.8% in the year-earlier period.

Total revenue grew 6.0% year over year to ¥13.38 billion from ¥12.62 billion, and total operating expenses grew year over year to ¥13.07 billion from ¥12.48 billion.

Reported net income grew year over year to ¥257.0 million, or ¥56.10 per share, from ¥22.0 million, or ¥4.80 per share.

For the year, the company's normalized net income totaled ¥289.19 per share, an increase of 14.1% from ¥253.41 per share in the prior year.

Normalized net income was ¥1.32 billion, a gain of 14.1% from ¥1.16 billion in the prior year.

Full-year total revenue grew year over year to ¥51.20 billion from ¥50.11 billion, and total operating expenses grew year over year to ¥49.56 billion from ¥48.62 billion.

The company said reported net income grew on an annual basis to ¥1.18 billion, or ¥258.22 per share, in the full year, from ¥1.13 billion, or ¥246.62 per share.

As of June 29, US$1 was equivalent to ¥122.67.