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Starts Corp. fiscal Q4 profit climbs 13.3% YOY

Starts Corp. Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥54.95 per share, an increase from ¥53.28 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.89 billion, an increase of 13.3% from ¥2.55 billion in the prior-year period.

The normalized profit margin increased to 6.8% from 6.1% in the year-earlier period.

Total revenue grew on an annual basis to ¥42.52 billion from ¥41.73 billion, and total operating expenses climbed year over year to ¥37.86 billion from ¥37.28 billion.

Reported net income declined 36.3% from the prior-year period to ¥1.59 billion, or ¥30.33 per share, from ¥2.50 billion, or ¥52.32 per share.

For the year, the company's normalized net income totaled ¥198.02 per share, a gain of 5.3% from ¥188.04 per share in the prior year.

Normalized net income was ¥10.17 billion, an increase of 13.1% from ¥9.00 billion in the prior year.

Full-year total revenue grew from the prior-year period to ¥156.75 billion from ¥151.03 billion, and total operating expenses increased year over year to ¥140.31 billion from ¥135.00 billion.

The company said reported net income grew 31.6% on an annual basis to ¥10.66 billion, or ¥207.43 per share, in the full year, from ¥8.10 billion, or ¥169.26 per share.

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