T.Kawabe & Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥6.98 per share, a gain from ¥2.91 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥127.5 million, a gain from ¥53.1 million in the prior-year period.

The normalized profit margin climbed to 2.7% from 1.3% in the year-earlier period.

Total revenue increased 13.5% year over year to ¥4.74 billion from ¥4.18 billion, and total operating expenses climbed 11.2% from the prior-year period to ¥4.55 billion from ¥4.09 billion.

Reported net income rose from the prior-year period to ¥124.0 million, or ¥6.79 per share, from ¥20.0 million, or ¥1.09 per share.

For the year, the company's normalized net income totaled ¥24.77 per share, a gain from ¥11.73 per share in the prior year.

Normalized net income was ¥452.5 million, a rise from ¥214.4 million in the prior year.

Full-year total revenue increased 6.1% on an annual basis to ¥17.15 billion from ¥16.17 billion, and total operating expenses grew year over year to ¥16.46 billion from ¥15.85 billion.

The company said reported net income increased 20.3% year over year to ¥438.0 million, or ¥23.98 per share, in the full year, from ¥364.0 million, or ¥19.93 per share.

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