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AEON fiscal Q4 profit climbs 7.0% YOY

AEON Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to ¥46.56 per share, an increase of 7.2% from ¥43.42 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥38.96 billion, a gain of 7.0% from ¥36.39 billion in the prior-year period.

The normalized profit margin declined to 1.9% from 2.1% in the year-earlier period.

Total revenue rose 12.8% on an annual basis to ¥2.002 trillion from ¥1.774 trillion, and total operating expenses climbed 12.4% year over year to ¥1.907 trillion from ¥1.697 trillion.

Reported net income decreased 52.1% from the prior-year period to ¥12.80 billion, or ¥15.19 per share, from ¥26.73 billion, or ¥30.66 per share.

For the year, the company's normalized net income totaled ¥69.18 per share, a decline of 20.4% from ¥86.91 per share in the prior year.

Normalized net income was ¥57.98 billion, a decrease of 20.6% from ¥73.04 billion in the prior year.

Full-year total revenue rose 10.7% on an annual basis to ¥7.079 trillion from ¥6.395 trillion, and total operating expenses grew 11.4% on an annual basis to ¥6.935 trillion from ¥6.223 trillion.

The company said reported net income fell on an annual basis to ¥41.54 billion, or ¥49.56 per share, in the full year, from ¥42.13 billion, or ¥50.13 per share.

As of May 28, US$1 was equivalent to ¥124.24.