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Kitanotatsujin fiscal Q4 profit falls YOY

Kitanotatsujin Corp. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥73.1 million, a fall of 12.7% from ¥83.8 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin declined to 13.6% from 17.5% in the year-earlier period.

Total revenue grew 12.5% year over year to ¥539.0 million from ¥479.0 million, and total operating expenses increased 23.5% from the prior-year period to ¥420.0 million from ¥340.0 million.

Reported net income totaled ¥71.0 million, compared with ¥82.0 million, or 26 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥4.24 per share, a gain from ¥1.88 per share in the prior year.

Normalized net income was ¥278.1 million, an increase of 15.3% from ¥241.3 million in the prior year.

Full-year total revenue increased 8.9% from the prior-year period to ¥1.94 billion from ¥1.78 billion, and total operating expenses increased 6.2% year over year to ¥1.48 billion from ¥1.39 billion.

The company said reported net income rose 13.6% year over year to ¥268.0 million, or ¥4.08 per share, in the full year, from ¥236.0 million, or ¥1.84 per share.

As of May 29, US$1 was equivalent to ¥124.15.