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Nisshin OilliO fiscal Q4 profit climbs 97.6% YOY

Nisshin OilliO Group Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥25.88 per share, a gain of 97.7% from ¥13.09 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥860.0 million, an increase of 97.6% from ¥435.1 million in the prior-year period.

The normalized profit margin climbed to 1.1% from 0.5% in the year-earlier period.

Total revenue fell on an annual basis to ¥80.38 billion from ¥84.33 billion, and total operating expenses declined 5.4% from the prior-year period to ¥78.81 billion from ¥83.34 billion.

Reported net income rose year over year to ¥681.0 million, or ¥20.49 per share, from ¥188.0 million, or ¥5.66 per share.

For the year, the company's normalized net income totaled ¥95.54 per share, a gain of 22.7% from ¥77.88 per share in the prior year.

Normalized net income was ¥3.17 billion, a rise of 22.7% from ¥2.59 billion in the prior year.

Full-year total revenue declined on an annual basis to ¥329.27 billion from ¥337.15 billion, and total operating expenses declined year over year to ¥323.69 billion from ¥332.05 billion.

The company said reported net income grew 51.4% year over year to ¥3.45 billion, or ¥103.73 per share, in the full year, from ¥2.28 billion, or ¥68.48 per share.

As of June 25, US$1 was equivalent to ¥123.71.