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Nippon View Hotel swings to profit in fiscal Q4

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Nippon View Hotel swings to profit in fiscal Q4

Nippon View Hotel Co. Ltd. said its normalized net income for the fiscal fourth quarter ended April 30 amounted to ¥9.04 per share, compared with a loss of 39 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥88.1 million, compared with a loss of ¥3.8 million in the prior-year period.

The normalized profit margin increased to 1.8% from negative 0.1% in the year-earlier period.

Total revenue rose 17.9% year over year to ¥4.95 billion from ¥4.19 billion, and total operating expenses climbed 14.3% from the prior-year period to ¥4.80 billion from ¥4.20 billion.

Reported net income totaled ¥36.6 million, or ¥3.72 per share, compared to a loss of ¥67.6 million, or a loss of ¥7.06 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥80.49 per share, an increase of 17.8% from ¥68.30 per share in the prior year.

Normalized net income was ¥785.6 million, a rise of 18.8% from ¥661.3 million in the prior year.

Full-year total revenue rose 8.4% from the prior-year period to ¥19.72 billion from ¥18.19 billion, and total operating expenses grew 6.2% year over year to ¥18.39 billion from ¥17.32 billion.

The company said reported net income rose 20.3% year over year to ¥706.5 million, or ¥72.38 per share, in the full year, from ¥587.4 million, or ¥60.68 per share.

As of July 29, US$1 was equivalent to ¥102.36.