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Heiwa swings to loss in fiscal Q4

4916577 said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥2.59 per share, compared with ¥47.30 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥255.0 million, compared with income of ¥4.07 billion in the year-earlier period.

The normalized profit margin dropped to negative 0.6% from 8.5% in the year-earlier period.

Total revenue decreased 12.9% on an annual basis to ¥41.56 billion from ¥47.73 billion, and total operating expenses rose year over year to ¥41.69 billion from ¥40.96 billion.

Reported net income totaled a loss of ¥176.8 million, or a loss of ¥1.81 per share, compared to income of ¥4.98 billion, or ¥57.90 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥242.31 per share, a fall of 15.6% from ¥287.24 per share in the prior year.

Normalized net income was ¥22.87 billion, a decline of 7.4% from ¥24.69 billion in the prior year.

Full-year total revenue rose 8.2% on an annual basis to ¥214.95 billion from ¥198.60 billion, and total operating expenses rose 13.0% on an annual basis to ¥176.05 billion from ¥155.80 billion.

he company said reported net income increas Heiwa Corp..