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Trust fiscal Q4 profit climbs 12.6% YOY

Trust Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥7.85 per share, a gain of 12.6% from ¥6.97 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥203.1 million, a gain of 12.6% from ¥180.4 million in the prior-year period.

The normalized profit margin fell to 4.1% from 4.5% in the year-earlier period.

Total revenue increased 23.0% year over year to ¥4.93 billion from ¥4.00 billion, and total operating expenses climbed 23.5% on an annual basis to ¥4.41 billion from ¥3.57 billion.

Reported net income grew 28.7% year over year to ¥202.0 million, or ¥7.81 per share, from ¥157.0 million, or ¥6.07 per share.

For the year, the company's normalized net income totaled ¥23.78 per share, an increase from ¥23.26 per share in the prior year.

Normalized net income was ¥615.3 million, a rise from ¥602.0 million in the prior year.

Full-year total revenue rose 14.8% year over year to ¥17.99 billion from ¥15.67 billion, and total operating expenses increased 15.7% year over year to ¥16.40 billion from ¥14.18 billion.

The company said reported net income grew 10.3% year over year to ¥622.0 million, or ¥24.04 per share, in the full year, from ¥564.0 million, or ¥21.80 per share.

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