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Edion fiscal Q4 profit falls YOY

Edion Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥15.74 per share, a decline of 70.6% from ¥53.63 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.65 billion, a decrease of 72.1% from ¥5.90 billion in the prior-year period.

Total revenue declined 23.2% year over year to ¥169.50 billion from ¥220.66 billion, and total operating expenses fell 20.8% on an annual basis to ¥167.09 billion from ¥210.84 billion.

Reported net income totaled a loss of ¥182.7 million, or a loss of ¥1.75 per share, compared to income of ¥1.99 billion, or ¥18.07 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥60.29 per share, a decrease of 28.6% from ¥84.42 per share in the prior year.

Normalized net income was ¥6.96 billion, a fall of 22.6% from ¥9.00 billion in the prior year.

Full-year total revenue decreased 9.8% from the prior-year period to ¥691.22 billion from ¥766.70 billion, and total operating expenses fell 9.6% year over year to ¥680.47 billion from ¥752.98 billion.

The company said reported net income decreased on an annual basis to ¥4.93 billion, or ¥42.69 per share, in the full year, from ¥5.15 billion, or ¥48.33 per share.

As of June 3, US$1 was equivalent to ¥124.14.