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Janome Sewing Machine fiscal Q4 profit falls YOY

Janome Sewing Machine Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥4.81 per share, a decline of 74.4% from ¥18.78 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥93.0 million, a decrease of 74.4% from ¥363.1 million in the prior-year period.

The normalized profit margin dropped to 0.8% from 3.3% in the year-earlier period.

Total revenue rose year over year to ¥11.57 billion from ¥11.05 billion, and total operating expenses grew 6.5% on an annual basis to ¥11.09 billion from ¥10.41 billion.

Reported net income declined 59.8% on an annual basis to ¥181.0 million, or ¥9.36 per share, from ¥450.0 million, or ¥23.28 per share.

For the year, the company's normalized net income totaled ¥85.56 per share, a gain of 21.4% from ¥70.48 per share in the prior year.

Normalized net income was ¥1.65 billion, a rise of 21.4% from ¥1.36 billion in the prior year.

Full-year total revenue rose on an annual basis to ¥46.02 billion from ¥44.70 billion, and total operating expenses rose on an annual basis to ¥43.06 billion from ¥41.79 billion.

The company said reported net income grew 27.4% year over year to ¥1.86 billion, or ¥96.21 per share, in the full year, from ¥1.46 billion, or ¥75.52 per share.

As of June 22, US$1 was equivalent to ¥123.23.