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J. Front Retailing profit holds relatively steady YOY in fiscal Q4

J. Front Retailing Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥35.66 per share, compared with ¥35.72 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.41 billion, compared with ¥9.43 billion in the prior-year period.

The normalized profit margin fell to 2.9% from 3.0% in the year-earlier period.

Total revenue climbed on an annual basis to ¥320.91 billion from ¥315.27 billion, and total operating expenses rose on an annual basis to ¥303.97 billion from ¥298.69 billion.

Reported net income increased 18.6% from the prior-year period to ¥9.78 billion, or ¥37.07 per share, from ¥8.25 billion, or ¥31.23 per share.

For the year, the company's normalized net income totaled ¥85.89 per share, compared with ¥85.74 per share in the prior year.

Normalized net income was ¥22.67 billion, compared with ¥22.64 billion in the prior year.

Full-year total revenue totaled ¥1.150 trillion, compared with ¥1.146 trillion in the prior year, and total operating expenses came to ¥1.107 trillion, compared with ¥1.105 trillion in the year-earlier period.

The company said reported net income declined 36.9% on an annual basis to ¥19.92 billion, or ¥75.47 per share, in the full year, from ¥31.57 billion, or ¥119.54 per share.

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