House Foods Group Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥9.37 per share, a gain of 20.7% from ¥7.76 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥962.8 million, a gain of 17.3% from ¥820.8 million in the year-earlier period.
The normalized profit margin increased to 1.9% from 1.5% in the year-earlier period.
Total revenue fell 5.8% on an annual basis to ¥51.97 billion from ¥55.15 billion, and total operating expenses decreased year over year to ¥51.57 billion from ¥54.09 billion.
Reported net income decreased 39.7% from the prior-year period to ¥411.0 million, or ¥4.00 per share, from ¥682.0 million, or ¥6.45 per share.
For the year, the company's normalized net income totaled ¥65.96 per share, a gain from ¥64.09 per share in the prior year.
Normalized net income was ¥6.80 billion, compared with ¥6.78 billion in the prior year.
Full-year total revenue amounted to ¥231.45 billion, compared with ¥232.61 billion in the prior year, and total operating expenses totaled ¥222.76 billion, compared with ¥223.02 billion in the year-earlier period.
The company said reported net income fell 20.7% on an annual basis to ¥6.97 billion, or ¥67.61 per share, in the full year, from ¥8.79 billion, or ¥83.13 per share.
As of June 25, US$1 was equivalent to ¥123.71.