Ogura Clutch Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥4.22 per share, a decrease of 45.6% from ¥7.77 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥63.3 million, a decrease of 45.6% from ¥116.4 million in the prior-year period.

The normalized profit margin declined to 0.7% from 1.3% in the year-earlier period.

Total revenue rose on an annual basis to ¥9.39 billion from ¥9.15 billion, and total operating expenses increased on an annual basis to ¥9.24 billion from ¥8.93 billion.

Reported net income came to a loss of ¥32.0 million, or a loss of ¥2.14 per share, compared to a loss of ¥149.0 million, or a loss of ¥9.94 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥41.85 per share, a decline of 8.3% from ¥45.65 per share in the prior year.

Normalized net income was ¥627.0 million, a decline of 8.4% from ¥684.3 million in the prior year.

Full-year total revenue decreased on an annual basis to ¥37.00 billion from ¥38.04 billion, and total operating expenses decreased year over year to ¥36.05 billion from ¥37.05 billion.

The company said reported net income fell 14.0% year over year to ¥410.0 million, or ¥27.37 per share, in the full year, from ¥477.0 million, or ¥31.83 per share.

As of June 29, US$1 was equivalent to ¥122.67.