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Hokuryo fiscal Q4 profit falls YOY

Hokuryo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Aug. 31 amounted to ¥8.71 per share, a decline of 52.5% from ¥18.33 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥71.3 million, a decline of 47.9% from ¥136.9 million in the year-earlier period.

The normalized profit margin declined to 1.9% from 3.4% in the year-earlier period.

Total revenue declined 6.2% on an annual basis to ¥3.80 billion from ¥4.05 billion, and total operating expenses fell year over year to ¥3.68 billion from ¥3.84 billion.

Reported net income fell 93.4% on an annual basis to ¥8.0 million, or 98 sen per share, from ¥122.0 million, or ¥16.34 per share.

For the year, the company's normalized net income totaled ¥125.75 per share, a gain of 27.1% from ¥98.91 per share in the prior year.

Normalized net income was ¥960.6 million, an increase of 45.7% from ¥659.4 million in the prior year.

Full-year total revenue totaled ¥15.68 billion, compared with ¥15.59 billion in the prior year, and total operating expenses declined on an annual basis to ¥14.19 billion from ¥14.55 billion.

The company said reported net income rose 46.8% year over year to ¥979.0 million, or ¥128.15 per share, in the full year, from ¥667.0 million, or ¥100.05 per share.

As of Nov. 28, US$1 was equivalent to ¥112.34.