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Yuasa Funashoku fiscal Q4 profit falls YOY

Yuasa Funashoku Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥54.32 per share, a decline of 27.4% from ¥74.83 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥244.3 million, a decline of 27.4% from ¥336.6 million in the year-earlier period.

The normalized profit margin fell to 1.0% from 1.3% in the year-earlier period.

Total revenue declined 6.6% on an annual basis to ¥23.67 billion from ¥25.35 billion, and total operating expenses decreased 6.0% from the prior-year period to ¥23.33 billion from ¥24.83 billion.

Reported net income decreased 14.0% year over year to ¥251.0 million, or ¥55.82 per share, from ¥292.0 million, or ¥64.91 per share.

For the year, the company's normalized net income totaled ¥267.17 per share, a fall of 9.8% from ¥296.16 per share in the prior year.

Normalized net income was ¥1.20 billion, a decrease of 10.5% from ¥1.34 billion in the prior year.

Full-year total revenue fell 5.5% from the prior-year period to ¥101.89 billion from ¥107.81 billion, and total operating expenses declined 5.2% year over year to ¥100.31 billion from ¥105.87 billion.

The company said reported net income decreased 12.4% on an annual basis to ¥1.18 billion, or ¥261.72 per share, in the full year, from ¥1.34 billion, or ¥296.44 per share.

As of June 29, US$1 was equivalent to ¥122.67.