DENSO Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥56.27 per share, a decrease of 18.2% from ¥68.78 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥44.89 billion, a decline of 18.2% from ¥54.85 billion in the year-earlier period.
The normalized profit margin declined to 3.9% from 5.1% in the year-earlier period.
Total revenue grew 6.5% year over year to ¥1.149 trillion from ¥1.079 trillion, and total operating expenses climbed 8.0% on an annual basis to ¥1.071 trillion from ¥991.55 billion.
Reported net income grew year over year to ¥62.95 billion, or ¥78.91 per share, from ¥61.80 billion, or ¥77.50 per share.
For the year, the company's normalized net income totaled ¥272.02 per share, compared to EPS of ¥308.79 in the prior year.
Normalized net income was ¥216.98 billion, a decrease from ¥246.09 billion in the prior year.
Full-year total revenue increased from the prior-year period to ¥4.310 trillion from ¥4.096 trillion, and total operating expenses increased year over year to ¥3.976 trillion from ¥3.718 trillion.
The company said reported net income declined on an annual basis to ¥258.38 billion, or ¥323.93 per share, in the full year, from ¥287.39 billion, or ¥360.60 per share.
As of June 19, US$1 was equivalent to ¥122.78.