Waseda Academy Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥17.92 per share, a decline of 7.2% from ¥19.31 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥149.4 million, a decline of 6.6% from ¥160.0 million in the prior-year period.

The normalized profit margin fell to 2.8% from 3.1% in the year-earlier period.

Total revenue increased on an annual basis to ¥5.25 billion from ¥5.09 billion, and total operating expenses grew on an annual basis to ¥5.00 billion from ¥4.82 billion.

Reported net income declined 7.2% year over year to ¥129.0 million, or ¥15.48 per share, from ¥139.0 million, or ¥16.77 per share.

For the year, the company's normalized net income totaled ¥78.04 per share, a gain of 36.3% from ¥57.26 per share in the prior year.

Normalized net income was ¥649.4 million, a rise of 37.3% from ¥473.1 million in the prior year.

Full-year total revenue increased year over year to ¥20.19 billion from ¥19.44 billion, and total operating expenses grew year over year to ¥19.17 billion from ¥18.69 billion.

The company said reported net income grew 39.0% on an annual basis to ¥584.0 million, or ¥70.18 per share, in the full year, from ¥420.0 million, or ¥50.83 per share.

As of June 28, US$1 was equivalent to ¥102.79.