Kewpie Corp. said its normalized net income for the fiscal fourth quarter ended Nov. 30, 2015, came to ¥16.62 per share, a decline of 23.3% from ¥21.67 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.52 billion, a decline of 23.3% from ¥3.29 billion in the year-earlier period.

The normalized profit margin declined to 1.7% from 2.3% in the year-earlier period.

Total revenue climbed year over year to ¥146.63 billion from ¥140.59 billion, and total operating expenses grew 5.0% from the prior-year period to ¥141.38 billion from ¥134.67 billion.

Reported net income increased 12.7% year over year to ¥3.00 billion, or ¥19.77 per share, from ¥2.66 billion, or ¥17.54 per share.

For the year, the company's normalized net income totaled ¥94.75 per share, a gain from ¥91.41 per share in the prior year.

Normalized net income was ¥14.38 billion, an increase from ¥13.78 billion in the prior year.

Full-year total revenue increased from the prior-year period to ¥578.19 billion from ¥553.40 billion, and total operating expenses increased year over year to ¥551.75 billion from ¥529.06 billion.

The company said reported net income rose 27.4% year over year to ¥17.03 billion, or ¥112.21 per share, in the full year, from ¥13.37 billion, or ¥88.69 per share.

As of Feb. 29, US$1 was equivalent to ¥112.83.