Toabo Corp. said its normalized net income for the fourth quarter was ¥15.42 per share, an increase of 46.7% from ¥10.51 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥137.5 million, an increase of 46.7% from ¥93.8 million in the year-earlier period.

The normalized profit margin rose to 2.6% from 1.7% in the year-earlier period.

Total revenue came to ¥5.34 billion, compared with ¥5.38 billion in the year-earlier period, and total operating expenses declined from the prior-year period to ¥5.11 billion from ¥5.25 billion.

Reported net income declined 11.5% year over year to ¥116.0 million, or ¥13.01 per share, from ¥131.0 million, or ¥14.69 per share.

For the year, the company's normalized net income totaled ¥33.43 per share, an increase of 6.0% from ¥31.53 per share in the prior year.

Normalized net income was ¥298.1 million, an increase of 6.0% from ¥281.3 million in the prior year.

Full-year total revenue totaled ¥19.30 billion, compared with ¥19.38 billion in the prior year, and total operating expenses came to ¥18.69 billion, compared with ¥18.79 billion in the prior-year period.

The company said reported net income grew 50.7% on an annual basis to ¥523.0 million, or ¥58.64 per share, in the full year, from ¥347.0 million, or ¥38.90 per share.

As of March 30, US$1 was equivalent to ¥112.45.