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Shinobu Foods Products fiscal Q4 profit climbs 63.4% YOY

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Shinobu Foods Products fiscal Q4 profit climbs 63.4% YOY

Shinobu Foods Products Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥12.55 per share, a gain of 70.3% from ¥7.37 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥164.6 million, an increase of 63.4% from ¥100.8 million in the prior-year period.

The normalized profit margin rose to 1.6% from 1.0% in the year-earlier period.

Total revenue increased 6.1% year over year to ¥10.34 billion from ¥9.75 billion, and total operating expenses increased 5.6% from the prior-year period to ¥10.13 billion from ¥9.60 billion.

Reported net income came to a loss of ¥46.0 million, or a loss of ¥3.51 per share, compared to income of ¥29.0 million, or ¥2.12 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥64.68 per share, a gain of 61.1% from ¥40.16 per share in the prior year.

Normalized net income was ¥861.8 million, a rise of 53.1% from ¥562.9 million in the prior year.

Full-year total revenue rose from the prior-year period to ¥42.13 billion from ¥40.25 billion, and total operating expenses grew year over year to ¥40.81 billion from ¥39.38 billion.

The company said reported net income rose 32.7% year over year to ¥681.0 million, or ¥51.11 per share, in the full year, from ¥513.0 million, or ¥36.60 per share.

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