Taisei Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥74.83 per share, an increase of 88.5% from ¥39.69 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.05 billion, a gain of 88.6% from ¥9.04 billion in the prior-year period.
The normalized profit margin increased to 3.4% from 1.6% in the year-earlier period.
Total revenue declined 8.9% on an annual basis to ¥501.39 billion from ¥550.57 billion, and total operating expenses fell 11.5% from the prior-year period to ¥473.55 billion from ¥534.99 billion.
Reported net income grew 11.1% from the prior-year period to ¥9.33 billion, or ¥40.96 per share, from ¥8.40 billion, or ¥36.89 per share.
For the year, the company's normalized net income totaled ¥204.09 per share, compared to EPS of ¥154.03 in the prior year.
Normalized net income was ¥46.49 billion, an increase from ¥35.09 billion in the prior year.
Full-year total revenue rose from the prior-year period to ¥1.573 trillion from ¥1.533 trillion, and total operating expenses rose year over year to ¥1.503 trillion from ¥1.480 trillion.
The company said reported net income grew year over year to ¥38.18 billion, or ¥167.58 per share, in the full year, from ¥32.09 billion, or ¥140.86 per share.
As of June 29, US$1 was equivalent to ¥122.67.