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Nissan Tokyo Sales fiscal Q4 profit falls YOY

Nissan Tokyo Sales Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥21.46 per share, a decline of 5.3% from ¥22.66 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.42 billion, a decrease of 5.4% from ¥1.51 billion in the year-earlier period.

The normalized profit margin rose to 3.3% from 3.0% in the year-earlier period.

Total revenue decreased 14.9% year over year to ¥43.27 billion from ¥50.86 billion, and total operating expenses decreased 14.9% on an annual basis to ¥40.90 billion from ¥48.08 billion.

Reported net income rose on an annual basis to ¥4.54 billion, or ¥68.38 per share, from ¥2.10 billion, or ¥31.63 per share.

For the year, the company's normalized net income totaled ¥32.57 per share, a decline of 38.0% from ¥52.54 per share in the prior year.

Normalized net income was ¥2.16 billion, a decline of 38.2% from ¥3.50 billion in the prior year.

Full-year total revenue fell 7.6% from the prior-year period to ¥144.20 billion from ¥155.99 billion, and total operating expenses fell 6.3% year over year to ¥140.20 billion from ¥149.56 billion.

The company said reported net income increased 10.8% year over year to ¥5.20 billion, or ¥78.33 per share, in the full year, from ¥4.69 billion, or ¥70.43 per share.

As of June 19, US$1 was equivalent to ¥122.78.