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Genki Sushi fiscal Q4 profit climbs 38.8% YOY

Genki Sushi Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥25.84 per share, an increase of 38.8% from ¥18.62 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥228.1 million, an increase of 38.8% from ¥164.4 million in the year-earlier period.

The normalized profit margin climbed to 3.1% from 2.4% in the year-earlier period.

Total revenue increased 10.0% on an annual basis to ¥7.42 billion from ¥6.75 billion, and total operating expenses grew 9.0% from the prior-year period to ¥7.05 billion from ¥6.46 billion.

Reported net income rose year over year to ¥413.0 million, or ¥46.78 per share, from ¥21.0 million, or ¥2.38 per share.

For the year, the company's normalized net income totaled ¥108.59 per share, a gain of 47.0% from ¥73.90 per share in the prior year.

Normalized net income was ¥958.8 million, an increase of 46.9% from ¥652.5 million in the prior year.

Full-year total revenue rose 9.2% on an annual basis to ¥29.36 billion from ¥26.89 billion, and total operating expenses increased 7.8% year over year to ¥27.89 billion from ¥25.88 billion.

The company said reported net income increased 78.9% year over year to ¥1.23 billion, or ¥139.20 per share, in the full year, from ¥687.0 million, or ¥77.80 per share.

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