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Fuji Kyuko swings to profit in fiscal Q4

Fuji Kyuko Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥3.13 per share, compared with a loss of ¥5.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥165.9 million, compared with a loss of ¥269.3 million in the year-earlier period.

The normalized profit margin climbed to 1.4% from negative 2.6% in the year-earlier period.

Total revenue grew 13.5% year over year to ¥11.91 billion from ¥10.49 billion, and total operating expenses increased 6.5% year over year to ¥11.45 billion from ¥10.76 billion.

Reported net income totaled a loss of ¥218.0 million, or a loss of ¥4.11 per share, compared to a loss of ¥590.0 million, or a loss of ¥11.11 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥42.45 per share, a gain of 19.9% from ¥35.41 per share in the prior year.

Normalized net income was ¥2.25 billion, an increase of 19.8% from ¥1.88 billion in the prior year.

Full-year total revenue rose year over year to ¥48.97 billion from ¥47.70 billion, and total operating expenses grew year over year to ¥44.62 billion from ¥43.84 billion.

The company said reported net income rose 38.7% year over year to ¥2.06 billion, or ¥38.77 per share, in the full year, from ¥1.48 billion, or ¥27.95 per share.

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