Nagano Tokyu Department Store Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Jan. 31 came to ¥5.68 per share, a decline of 49.1% from ¥11.16 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥54.4 million, a decline of 49.1% from ¥106.9 million in the year-earlier period.
The normalized profit margin fell to 0.9% from 1.6% in the year-earlier period.
Total revenue fell 7.0% year over year to ¥6.25 billion from ¥6.73 billion, and total operating expenses fell 6.0% from the prior-year period to ¥6.16 billion from ¥6.55 billion.
Reported net income declined 43.6% year over year to ¥53.0 million, or ¥5.54 per share, from ¥94.0 million, or ¥9.81 per share.
For the year, the company's normalized net income totaled ¥6.07 per share, a fall of 68.2% from ¥19.11 per share in the prior year.
Normalized net income was ¥58.1 million, a decline of 68.3% from ¥183.1 million in the prior year.
Full-year total revenue declined from the prior-year period to ¥22.65 billion from ¥23.64 billion, and total operating expenses decreased year over year to ¥22.52 billion from ¥23.32 billion.
The company said reported net income declined 57.4% year over year to ¥29.0 million, or ¥3.03 per share, in the full year, from ¥68.0 million, or ¥7.10 per share.
As of April 22, US$1 was equivalent to ¥119.87.
