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Toyoda Gosei fiscal Q4 profit climbs 10.5% YOY

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Toyoda Gosei fiscal Q4 profit climbs 10.5% YOY

Toyoda Gosei Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥47.40 per share, an increase of 10.5% from ¥42.90 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥6.14 billion, a gain of 10.5% from ¥5.55 billion in the prior-year period.

The normalized profit margin dropped to 3.2% from 3.3% in the year-earlier period.

Total revenue increased 14.1% year over year to ¥192.87 billion from ¥168.98 billion, and total operating expenses rose 14.3% from the prior-year period to ¥180.87 billion from ¥158.28 billion.

Reported net income decreased 27.9% on an annual basis to ¥2.80 billion, or ¥21.62 per share, from ¥3.88 billion, or ¥29.98 per share.

For the year, the company's normalized net income totaled ¥195.88 per share, a fall from ¥203.17 per share in the prior year.

Normalized net income was ¥25.35 billion, a decline from ¥26.30 billion in the prior year.

Full-year total revenue grew 5.6% on an annual basis to ¥727.85 billion from ¥689.48 billion, and total operating expenses increased 6.3% on an annual basis to ¥686.24 billion from ¥645.68 billion.

The company said reported net income fell 19.3% year over year to ¥21.16 billion, or ¥163.44 per share, in the full year, from ¥26.21 billion, or ¥202.53 per share.

As of June 18, US$1 was equivalent to ¥122.95.