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Exedy fiscal Q4 profit climbs 33.8% YOY

Exedy Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥61.09 per share, a gain of 33.7% from ¥45.69 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.93 billion, an increase of 33.8% from ¥2.19 billion in the year-earlier period.

The normalized profit margin was 4.2%.

Total revenue grew 5.7% on an annual basis to ¥70.66 billion from ¥66.85 billion, and total operating expenses climbed on an annual basis to ¥63.51 billion from ¥62.78 billion.

Reported net income increased year over year to ¥3.34 billion, or ¥69.49 per share, from ¥1.61 billion, or ¥33.53 per share.

For the year, the company's normalized net income totaled ¥216.44 per share, a fall of 8.0% from ¥235.23 per share in the prior year.

Normalized net income was ¥10.39 billion, a decline of 8.0% from ¥11.29 billion in the prior year.

Full-year total revenue increased year over year to ¥268.75 billion from ¥256.01 billion, and total operating expenses grew year over year to ¥247.45 billion from ¥238.12 billion.

The company said reported net income increased 26.4% on an annual basis to ¥12.01 billion, or ¥250.17 per share, in the full year, from ¥9.50 billion, or ¥197.94 per share.

As of June 29, US$1 was equivalent to ¥102.64.