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Marudai Food fiscal Q4 loss narrows YOY

Marudai Food Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of 70 Japanese sen per share, compared with a loss of ¥4.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥92.1 million, compared with a loss of ¥561.1 million in the year-earlier period.

The normalized profit margin climbed to negative 0.2% from negative 1.1% in the year-earlier period.

Total revenue increased year over year to ¥50.74 billion from ¥49.27 billion, and total operating expenses increased year over year to ¥50.96 billion from ¥50.22 billion.

Reported net income totaled a loss of ¥101.0 million, or a loss of 77 sen per share, compared to a loss of ¥264.0 million, or a loss of ¥2.02 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥21.07 per share, a gain of 61.7% from ¥13.03 per share in the prior year.

Normalized net income was ¥2.78 billion, a rise of 64.0% from ¥1.69 billion in the prior year.

Full-year total revenue increased year over year to ¥229.54 billion from ¥222.32 billion, and total operating expenses rose year over year to ¥225.37 billion from ¥219.59 billion.

The company said reported net income grew 45.0% on an annual basis to ¥2.62 billion, or ¥19.85 per share, in the full year, from ¥1.80 billion, or ¥13.88 per share.

As of June 30, US$1 was equivalent to ¥102.42.