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Kuwayama fiscal Q4 profit climbs 73.0% YOY

Kuwayama Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥17.52 per share, a gain of 73.0% from ¥10.13 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥176.3 million, an increase of 73.0% from ¥101.9 million in the prior-year period.

The normalized profit margin climbed to 1.6% from 1.1% in the year-earlier period.

Total revenue grew 12.8% year over year to ¥10.91 billion from ¥9.67 billion, and total operating expenses rose 13.2% year over year to ¥10.65 billion from ¥9.41 billion.

Reported net income grew 81.9% from the prior-year period to ¥131.0 million, or ¥13.02 per share, from ¥72.0 million, or ¥7.16 per share.

For the year, the company's normalized net income totaled ¥93.78 per share, an increase of 16.5% from ¥80.48 per share in the prior year.

Normalized net income was ¥943.1 million, an increase of 16.5% from ¥809.4 million in the prior year.

Full-year total revenue grew year over year to ¥37.13 billion from ¥35.82 billion, and total operating expenses rose on an annual basis to ¥35.70 billion from ¥34.36 billion.

The company said reported net income grew 17.3% on an annual basis to ¥938.0 million, or ¥93.27 per share, in the full year, from ¥800.0 million, or ¥79.55 per share.

As of June 26, US$1 was equivalent to ¥123.96.