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Isetan Mitsukoshi fiscal Q4 profit falls YOY

Isetan Mitsukoshi Holdings Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥10.90 per share, a decrease of 10.3% from ¥12.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.32 billion, a decline of 10.3% from ¥4.81 billion in the year-earlier period.

The normalized profit margin fell to 1.3% from 1.4% in the year-earlier period.

Total revenue fell 6.7% year over year to ¥330.83 billion from ¥354.73 billion, and total operating expenses fell 7.3% from the prior-year period to ¥324.16 billion from ¥349.81 billion.

Reported net income increased on an annual basis to ¥11.79 billion, or ¥29.78 per share, from ¥1.47 billion, or ¥3.72 per share.

For the year, the company's normalized net income totaled ¥56.34 per share, a decrease of 9.4% from ¥62.20 per share in the prior year.

Normalized net income was ¥22.31 billion, a decrease of 9.4% from ¥24.62 billion in the prior year.

Full-year total revenue declined from the prior-year period to ¥1.272 trillion from ¥1.322 trillion, and total operating expenses fell on an annual basis to ¥1.239 trillion from ¥1.287 trillion.

The company said reported net income increased 41.2% year over year to ¥29.89 billion, or ¥75.47 per share, in the full year, from ¥21.16 billion, or ¥53.47 per share.

As of June 22, US$1 was equivalent to ¥123.23.