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Shoei Foods fiscal Q4 profit falls YOY

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Shoei Foods fiscal Q4 profit falls YOY

Shoei Foods Corp. said its normalized net income for the fiscal fourth quarter ended Oct. 31, 2015, was ¥17.70 per share, a decline from ¥18.40 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥305.0 million, a decrease of 14.8% from ¥357.9 million in the prior-year period.

The normalized profit margin dropped to 1.2% from 1.5% in the year-earlier period.

Total revenue grew 7.4% year over year to ¥25.66 billion from ¥23.89 billion, and total operating expenses climbed 7.2% year over year to ¥25.14 billion from ¥23.46 billion.

Reported net income fell 27.1% on an annual basis to ¥280.0 million, or ¥16.25 per share, from ¥384.0 million, or ¥19.74 per share.

For the year, the company's normalized net income totaled ¥116.99 per share, a gain of 34.8% from ¥86.79 per share in the prior year.

Normalized net income was ¥2.21 billion, a rise of 31.0% from ¥1.69 billion in the prior year.

Full-year total revenue increased 8.6% on an annual basis to ¥106.75 billion from ¥98.25 billion, and total operating expenses increased 8.0% year over year to ¥103.39 billion from ¥95.74 billion.

The company said reported net income grew 55.2% on an annual basis to ¥2.60 billion, or ¥137.70 per share, in the full year, from ¥1.68 billion, or ¥86.22 per share.

As of Jan. 28, US$1 was equivalent to ¥118.74.