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Axial Retailing fiscal Q4 profit falls YOY

Axial Retailing Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥38.29 per share, compared with ¥38.58 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥893.8 million, compared with ¥900.6 million in the prior-year period.

The normalized profit margin declined to 1.6% from 1.7% in the year-earlier period.

Total revenue climbed 5.2% year over year to ¥54.77 billion from ¥52.06 billion, and total operating expenses rose 5.3% on an annual basis to ¥53.38 billion from ¥50.69 billion.

Reported net income totaled a loss of ¥32.0 million, or a loss of ¥1.37 per share, compared to income of ¥53.0 million, or ¥2.27 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥231.14 per share, an increase of 27.4% from ¥181.50 per share in the prior year.

Normalized net income was ¥5.40 billion, a gain of 27.3% from ¥4.24 billion in the prior year.

Full-year total revenue rose 5.2% from the prior-year period to ¥223.71 billion from ¥212.61 billion, and total operating expenses increased on an annual basis to ¥215.16 billion from ¥205.94 billion.

The company said reported net income increased 41.5% on an annual basis to ¥4.66 billion, or ¥199.80 per share, in the full year, from ¥3.30 billion, or ¥141.20 per share.

As of June 27, US$1 was equivalent to ¥101.69.