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Syuppin fiscal Q4 profit falls YOY

Syuppin Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥8.56 per share, a gain from ¥4.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥102.5 million, a decrease of 15.9% from ¥121.9 million in the prior-year period.

The normalized profit margin fell to 1.8% from 2.4% in the year-earlier period.

Total revenue increased 12.6% year over year to ¥5.73 billion from ¥5.08 billion, and total operating expenses rose 13.9% year over year to ¥5.56 billion from ¥4.88 billion.

Reported net income decreased 7.5% year over year to ¥123.0 million, or ¥10.28 per share, from ¥133.0 million, or ¥4.44 per share.

For the year, the company's normalized net income totaled ¥42.81 per share, a fall of 5.5% from ¥45.32 per share in the prior year.

Normalized net income was ¥512.5 million, a decline of 5.5% from ¥542.5 million in the prior year.

Full-year total revenue grew 18.5% from the prior-year period to ¥22.70 billion from ¥19.17 billion, and total operating expenses rose 19.7% year over year to ¥21.87 billion from ¥18.28 billion.

The company said reported net income came to ¥560.0 million, or ¥46.78 per share, in the full year, compared with ¥563.0 million, or ¥47.03 per share, the prior year.

As of June 29, US$1 was equivalent to ¥102.64.