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JXTG Holdings fiscal Q4 profit climbs 701.8% YOY

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JXTG Holdings fiscal Q4 profit climbs 701.8% YOY

JXTG Holdings Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥112.24 per share, a gain of 701.8% from ¥14.00 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥279.07 billion, a gain of 701.8% from ¥34.81 billion in the prior-year period.

The normalized profit margin climbed to 11.0% from 1.0% in the year-earlier period.

Total revenue decreased 25.5% year over year to ¥2.539 trillion from ¥3.408 trillion, and total operating expenses decreased 36.8% on an annual basis to ¥2.146 trillion from ¥3.397 trillion.

Reported net income totaled a loss of ¥143.20 billion, or a loss of ¥57.59 per share, compared with a loss of ¥24.84 billion, or a loss of ¥9.99 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥69.65 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of .

EPS rose from ¥68.30 in the prior year.

Normalized net income was ¥173.19 billion, an increase from ¥169.84 billion in the prior year.

Full-year total revenue fell from the prior-year period to ¥10.882 trillion from ¥12.412 trillion, and total operating expenses fell on an annual basis to ¥10.695 trillion from ¥12.198 trillion.

The company said reported net income came to a loss of ¥277.21 billion, or a loss of ¥111.49 per share, in the full year, compared with income of ¥107.04 billion, or ¥43.05 per share, the prior year.

As of May 29, US$1 was equivalent to ¥124.15.