Nichirin Co. Ltd. said its normalized net income for the fourth quarter came to ¥55.51 per share, a gain from ¥54.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥796.8 million, a gain from ¥777.9 million in the prior-year period.

The normalized profit margin dropped to 6.0% from 6.2% in the year-earlier period.

Total revenue grew 4.9% on an annual basis to ¥13.19 billion from ¥12.57 billion, and total operating expenses increased year over year to ¥11.58 billion from ¥11.33 billion.

Reported net income increased 28.4% year over year to ¥1.08 billion, or ¥75.52 per share, from ¥844.0 million, or ¥58.79 per share.

For the year, the company's normalized net income totaled ¥186.95 per share, a gain of 14.7% from ¥162.93 per share in the prior year.

Normalized net income was ¥2.68 billion, a rise of 14.7% from ¥2.34 billion in the prior year.

Full-year total revenue grew 6.8% from the prior-year period to ¥50.85 billion from ¥47.62 billion, and total operating expenses rose on an annual basis to ¥45.09 billion from ¥43.11 billion.

The company said reported net income rose 27.3% on an annual basis to ¥3.32 billion, or ¥231.48 per share, in the full year, from ¥2.61 billion, or ¥181.76 per share.

As of March 25, US$1 was equivalent to ¥113.11.