K's Holdings Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥39.70 per share, a decline of 48.0% from ¥76.38 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.64 billion, a decline of 42.2% from ¥8.02 billion in the prior-year period.
The normalized profit margin fell to 3.0% from 4.0% in the year-earlier period.
Total revenue declined 23.0% on an annual basis to ¥154.55 billion from ¥200.63 billion, and total operating expenses fell 21.6% from the prior-year period to ¥148.83 billion from ¥189.91 billion.
Reported net income declined 53.0% on an annual basis to ¥3.37 billion, or ¥28.86 per share, from ¥7.16 billion, or ¥68.21 per share.
For the year, the company's normalized net income totaled ¥147.75 per share, a decline of 19.9% from ¥184.54 per share in the prior year.
Normalized net income was ¥16.16 billion, a decrease of 17.9% from ¥19.67 billion in the prior year.
Full-year total revenue declined 9.1% year over year to ¥637.19 billion from ¥701.20 billion, and total operating expenses declined 8.7% year over year to ¥618.65 billion from ¥677.56 billion.
The company said reported net income fell 14.1% year over year to ¥15.03 billion, or ¥137.42 per share, in the full year, from ¥17.49 billion, or ¥164.13 per share.
As of June 25, US$1 was equivalent to ¥123.71.