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Tokyo Gas fiscal Q4 profit falls YOY

Tokyo Gas Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥40.00 per share, a decrease of 51.5% from ¥82.51 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥18.37 billion, a decline of 53.4% from ¥39.44 billion in the prior-year period.

The normalized profit margin declined to 3.7% from 7.2% in the year-earlier period.

Total revenue declined 8.0% on an annual basis to ¥501.01 billion from ¥544.75 billion, and total operating expenses declined on an annual basis to ¥470.81 billion from ¥481.15 billion.

Reported net income grew 8.0% on an annual basis to ¥35.69 billion, or ¥77.73 per share, from ¥33.04 billion, or ¥69.11 per share.

For the year, the company's normalized net income totaled ¥73.42 per share, compared to EPS of ¥243.88 in the prior year.

Normalized net income was ¥33.90 billion, a fall from ¥116.96 billion in the prior year.

Full-year total revenue decreased on an annual basis to ¥1.587 trillion from ¥1.885 trillion, and total operating expenses declined year over year to ¥1.529 trillion from ¥1.693 trillion.

The company said reported net income declined on an annual basis to ¥53.13 billion, or ¥115.09 per share, in the full year, from ¥111.94 billion, or ¥233.39 per share.

As of June 29, US$1 was equivalent to ¥112.60.