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Yamaki swings to loss in fiscal Q4

Yamaki Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥7.10 per share, compared with ¥9.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥102.5 million, compared with income of ¥106.3 million in the year-earlier period.

The normalized profit margin declined to negative 2.2% from 2.0% in the year-earlier period.

Total revenue declined 13.9% on an annual basis to ¥4.59 billion from ¥5.34 billion, and total operating expenses declined 10.1% from the prior-year period to ¥4.63 billion from ¥5.15 billion.

Reported net income totaled a loss of ¥173.2 million, or a loss of ¥11.98 per share, compared to a loss of ¥3.3 million, or a loss of 26 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥13.85 per share, a decrease of 38.1% from ¥22.39 per share in the prior year.

Normalized net income was ¥200.6 million, compared with ¥202.3 million in the prior year.

Full-year total revenue grew 8.7% on an annual basis to ¥18.95 billion from ¥17.44 billion, and total operating expenses rose 7.5% on an annual basis to ¥18.53 billion from ¥17.23 billion.

The company said reported net income decreased 19.2% on an annual basis to ¥281.0 million, or ¥19.40 per share, in the full year, from ¥347.9 million, or ¥38.51 per share.

As of June 28, US$1 was equivalent to ¥102.79.