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Kansai Electric Power fiscal Q4 loss narrows YOY

Kansai Electric Power Co. said its normalized net income for the fiscal fourth quarter ended March 31 was a loss of ¥25.01 per share, compared with a loss of ¥54.35 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥22.35 billion, compared with a loss of ¥48.56 billion in the prior-year period.

The normalized profit margin increased to negative 2.4% from negative 5.2% in the year-earlier period.

Total revenue totaled ¥935.13 billion, compared with ¥928.95 billion in the prior-year period, and total operating expenses declined on an annual basis to ¥947.10 billion from ¥992.98 billion.

Reported net income came to a loss of ¥81.74 billion, or a loss of ¥91.49 per share, compared with a loss of ¥62.76 billion, or a loss of ¥70.23 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥79.43 per share, compared to EPS of a loss of ¥78.05 in the prior year.

Normalized net income was a loss of ¥70.98 billion, compared with a loss of ¥69.74 billion in the prior year.

Full-year total revenue grew on an annual basis to ¥3.406 trillion from ¥3.327 trillion, and total operating expenses rose year over year to ¥3.485 trillion from ¥3.399 trillion.

The company said reported net income came to a loss of ¥148.38 billion, or a loss of ¥166.06 per share, in the full year, compared with a loss of ¥97.41 billion, or a loss of ¥109.01 per share, the prior year.

As of June 26, US$1 was equivalent to ¥123.96.