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Heiwa fiscal Q4 profit falls YOY

Heiwa Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥47.30 per share, a decrease of 8.0% from ¥51.39 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.07 billion, a decrease of 7.8% from ¥4.41 billion in the prior-year period.

The normalized profit margin declined to 8.5% from 8.6% in the year-earlier period.

Total revenue fell 6.7% year over year to ¥47.73 billion from ¥51.16 billion, and total operating expenses decreased 5.4% year over year to ¥40.96 billion from ¥43.30 billion.

Reported net income rose 8.7% from the prior-year period to ¥4.98 billion, or ¥57.90 per share, from ¥4.58 billion, or ¥53.35 per share.

For the year, the company's normalized net income totaled ¥287.24 per share, an increase of 19.2% from ¥240.87 per share in the prior year.

Normalized net income was ¥24.69 billion, a rise of 19.4% from ¥20.67 billion in the prior year.

Full-year total revenue grew 9.4% on an annual basis to ¥198.60 billion from ¥181.57 billion, and total operating expenses grew 7.6% year over year to ¥155.80 billion from ¥144.73 billion.

The company said reported net income rose 28.9% on an annual basis to ¥26.23 billion, or ¥305.26 per share, in the full year, from ¥20.36 billion, or ¥237.24 per share.

As of June 26, US$1 was equivalent to ¥123.96.