Nisshin Seifun Group Inc. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥10.87 per share, a gain of 11.8% from ¥9.72 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.28 billion, a gain of 12.1% from ¥2.93 billion in the prior-year period.

The normalized profit margin increased to 2.4% from 2.3% in the year-earlier period.

Total revenue rose 10.1% year over year to ¥138.64 billion from ¥125.94 billion, and total operating expenses climbed 10.3% from the prior-year period to ¥133.93 billion from ¥121.47 billion.

Reported net income increased 4.9% year over year to ¥2.94 billion, or ¥9.74 per share, from ¥2.80 billion, or ¥9.30 per share.

For the year, the company's normalized net income totaled ¥50.21 per share, compared with ¥50.08 per share in the prior year.

Normalized net income was ¥15.13 billion, compared with ¥15.07 billion in the prior year.

Full-year total revenue grew 6.1% on an annual basis to ¥526.14 billion from ¥495.93 billion, and total operating expenses increased 6.8% year over year to ¥505.67 billion from ¥473.65 billion.

The company said reported net income rose 6.2% on an annual basis to ¥16.04 billion, or ¥53.22 per share, in the full year, from ¥15.10 billion, or ¥50.19 per share.

As of June 25, US$1 was equivalent to ¥123.71.