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Izutsuya fiscal Q4 profit falls YOY

Izutsuya Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥43.85 per share, a decline of 22.5% from ¥56.61 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥502.5 million, a decrease of 22.5% from ¥648.8 million in the year-earlier period.

The normalized profit margin dropped to 2.1% from 2.7% in the year-earlier period.

Total revenue fell on an annual basis to ¥23.41 billion from ¥24.41 billion, and total operating expenses fell year over year to ¥22.37 billion from ¥23.32 billion.

Reported net income totaled a loss of ¥603.0 million, or a loss of ¥52.62 per share, compared to income of ¥1.02 billion, or ¥88.92 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥75.49 per share, a fall of 30.0% from ¥107.83 per share in the prior year.

Normalized net income was ¥865.0 million, a fall of 30.0% from ¥1.24 billion in the prior year.

Full-year total revenue declined from the prior-year period to ¥85.26 billion from ¥87.23 billion, and total operating expenses fell on an annual basis to ¥83.28 billion from ¥85.02 billion.

The company said reported net income came to a loss of ¥4.77 billion, or a loss of ¥416.44 per share, in the full year, compared with income of ¥1.90 billion, or ¥165.89 per share, the prior year.

As of May 29, US$1 was equivalent to ¥124.15.