Seven & i Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥62.97 per share, a gain of 10.4% from ¥57.02 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥55.71 billion, an increase of 10.5% from ¥50.42 billion in the prior-year period.

The normalized profit margin increased to 3.6% from 2.3% in the year-earlier period.

Total revenue declined 28.8% on an annual basis to ¥1.537 trillion from ¥2.159 trillion, and total operating expenses decreased 30.2% year over year to ¥1.443 trillion from ¥2.068 trillion.

Reported net income declined year over year to ¥45.66 billion, or ¥51.60 per share, from ¥47.68 billion, or ¥53.92 per share.

For the year, the company's normalized net income totaled ¥230.40 per share, a gain from ¥221.88 per share in the prior year.

Normalized net income was ¥203.85 billion, an increase from ¥196.20 billion in the prior year.

Full-year total revenue increased 7.2% on an annual basis to ¥6.039 trillion from ¥5.632 trillion, and total operating expenses grew 7.6% year over year to ¥5.696 trillion from ¥5.292 trillion.

The company said reported net income fell on an annual basis to ¥172.96 billion, or ¥195.48 per share, in the full year, from ¥175.69 billion, or ¥198.69 per share.

As of May 28, US$1 was equivalent to ¥124.24.