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Ministop fiscal Q4 profit falls YOY

Ministop Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥14.69 per share, a decrease of 26.5% from ¥19.98 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥425.1 million, a decrease of 26.4% from ¥578.0 million in the year-earlier period.

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

Total revenue climbed 10.4% year over year to ¥40.59 billion from ¥36.76 billion, and total operating expenses rose 10.9% from the prior-year period to ¥40.24 billion from ¥36.30 billion.

Reported net income totaled a loss of ¥414.4 million, or a loss of ¥14.34 per share, compared to a loss of ¥1.09 billion, or a loss of ¥37.57 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥90.23 per share, a decrease of 31.1% from ¥130.90 per share in the prior year.

Normalized net income was ¥2.62 billion, a fall of 31.1% from ¥3.79 billion in the prior year.

Full-year total revenue grew 11.0% year over year to ¥162.12 billion from ¥146.07 billion, and total operating expenses increased 12.5% on an annual basis to ¥159.16 billion from ¥141.44 billion.

The company said reported net income came to ¥876.5 million, or ¥30.23 per share, in the full year, compared with ¥870.0 million, or ¥30.01 per share, the prior year.

As of May 21, US$1 was equivalent to ¥121.11.