Kourakuen Holdings Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥5.42 per share, a decline of 37.6% from ¥8.68 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥88.1 million, a decrease of 36.8% from ¥139.4 million in the prior-year period.

The normalized profit margin dropped to 1.0% from 1.5% in the year-earlier period.

Total revenue fell year over year to ¥9.26 billion from ¥9.42 billion, and total operating expenses came to ¥9.13 billion, compared with ¥9.20 billion in the year-earlier period.

Reported net income came to a loss of ¥18.9 million, or a loss of ¥1.17 per share, compared to a loss of ¥35.6 million, or a loss of ¥2.24 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥35.07 per share, a fall from ¥35.83 per share in the prior year.

Normalized net income was ¥570.0 million, compared with ¥574.4 million in the prior year.

Full-year total revenue grew on an annual basis to ¥37.68 billion from ¥37.20 billion, and total operating expenses grew on an annual basis to ¥36.87 billion from ¥36.30 billion.

The company said reported net income rose 54.3% on an annual basis to ¥261.5 million, or ¥16.09 per share, in the full year, from ¥169.4 million, or ¥10.55 per share.

As of June 19, US$1 was equivalent to ¥122.78.