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Komatsu Seiren fiscal Q4 profit climbs YOY

Komatsu Seiren Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥6.28 per share, an increase from 85 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥268.9 million, an increase from ¥36.0 million in the year-earlier period.

The normalized profit margin increased to 3.0% from 0.4% in the year-earlier period.

Total revenue fell year over year to ¥8.97 billion from ¥9.08 billion, and total operating expenses declined 5.7% from the prior-year period to ¥8.66 billion from ¥9.19 billion.

Reported net income came to ¥205.0 million, or ¥4.79 per share, compared to a loss of ¥89.0 million, or a loss of ¥2.09 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥15.14 per share, a decline of 16.3% from ¥18.09 per share in the prior year.

Normalized net income was ¥648.1 million, a decrease of 16.3% from ¥774.6 million in the prior year.

Full-year total revenue amounted to ¥36.66 billion, compared with ¥36.75 billion in the prior year, and total operating expenses totaled ¥36.25 billion, compared with ¥36.39 billion in the year-earlier period.

The company said reported net income declined 18.1% on an annual basis to ¥632.0 million, or ¥14.76 per share, in the full year, from ¥772.0 million, or ¥18.03 per share.

As of June 29, US$1 was equivalent to ¥122.67.