Maxvalu Chubu Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 29 came to ¥24.63 per share, an increase of 30.0% from ¥18.94 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥780.1 million, a gain of 28.4% from ¥607.4 million in the year-earlier period.

The normalized profit margin rose to 1.8% from 1.4% in the year-earlier period.

Total revenue increased 5.1% year over year to ¥44.26 billion from ¥42.10 billion, and total operating expenses increased year over year to ¥43.09 billion from ¥41.29 billion.

Reported net income fell 10.1% on an annual basis to ¥546.0 million, or ¥17.24 per share, from ¥607.2 million, or ¥18.93 per share.

For the year, the company's normalized net income totaled ¥71.88 per share, a gain from ¥15.80 per share in the prior year.

Normalized net income was ¥2.28 billion, a rise from ¥501.9 million in the prior year.

Full-year total revenue grew 5.4% from the prior-year period to ¥173.90 billion from ¥164.94 billion, and total operating expenses increased year over year to ¥170.72 billion from ¥164.51 billion.

The company said reported net income increased on an annual basis to ¥1.31 billion, or ¥41.29 per share, in the full year, from ¥212.2 million, or ¥6.68 per share.

As of May 20, US$1 was equivalent to ¥110.47.