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Mizuno fiscal Q4 profit falls YOY

Mizuno Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥2.29 per share, a decrease of 93.3% from ¥34.05 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥57.8 million, a decrease of 93.3% from ¥857.5 million in the prior-year period.

The normalized profit margin declined to 0.1% from 1.6% in the year-earlier period.

Total revenue fell year over year to ¥52.42 billion from ¥53.38 billion, and total operating expenses totaled ¥51.90 billion, compared with ¥51.50 billion in the prior-year period.

Reported net income totaled a loss of ¥176.0 million, or a loss of ¥6.97 per share, compared to income of ¥943.0 million, or ¥37.44 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥64.83 per share, a fall of 48.4% from ¥125.69 per share in the prior year.

Normalized net income was ¥1.63 billion, a decrease of 48.3% from ¥3.16 billion in the prior year.

Full-year total revenue grew on an annual basis to ¥196.07 billion from ¥187.08 billion, and total operating expenses rose 6.1% on an annual basis to ¥193.10 billion from ¥182.02 billion.

The company said reported net income fell 37.6% year over year to ¥2.08 billion, or ¥82.69 per share, in the full year, from ¥3.34 billion, or ¥132.80 per share.

As of June 23, US$1 was equivalent to ¥105.69.