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Oie Sangyo fiscal Q4 profit climbs 83.8% YOY

Oie Sangyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥18.79 per share, a gain of 86.6% from ¥10.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥170.0 million, an increase of 83.8% from ¥92.5 million in the prior-year period.

The normalized profit margin climbed to 0.9% from 0.5% in the year-earlier period.

Total revenue increased 8.6% on an annual basis to ¥18.73 billion from ¥17.25 billion, and total operating expenses rose 8.0% year over year to ¥18.48 billion from ¥17.11 billion.

Reported net income declined on an annual basis to ¥88.0 million, or ¥9.72 per share, from ¥92.0 million, or ¥10.01 per share.

For the year, the company's normalized net income totaled ¥55.88 per share, an increase of 14.7% from ¥48.72 per share in the prior year.

Normalized net income was ¥505.6 million, a gain of 12.4% from ¥450.0 million in the prior year.

Full-year total revenue grew 7.6% year over year to ¥77.85 billion from ¥72.37 billion, and total operating expenses rose 7.5% year over year to ¥77.10 billion from ¥71.72 billion.

The company said reported net income increased on an annual basis to ¥406.0 million, or ¥44.87 per share, in the full year, from ¥400.0 million, or ¥43.31 per share.

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