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Saikaya swings to profit in fiscal Q4

Saikaya Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥14.41 per share, compared with a loss of ¥6.81 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥105.0 million, compared with a loss of ¥21.3 million in the year-earlier period.

The normalized profit margin increased to 1.1% from negative 0.2% in the year-earlier period.

Total revenue decreased on an annual basis to ¥9.50 billion from ¥9.96 billion, and total operating expenses decreased 6.6% year over year to ¥9.28 billion from ¥9.94 billion.

Reported net income came to ¥4.29 billion, or ¥588.35 per share, compared to a loss of ¥80.5 million, or a loss of ¥25.95 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥60.05 per share, a gain from ¥29.57 per share in the prior year.

Normalized net income was ¥250.0 million, a rise from ¥123.1 million in the prior year.

Full-year total revenue declined 6.6% from the prior-year period to ¥35.22 billion from ¥37.70 billion, and total operating expenses decreased 6.9% on an annual basis to ¥34.68 billion from ¥37.25 billion.

The company said reported net income grew on an annual basis to ¥3.06 billion, or ¥734.90 per share, in the full year, from ¥104.5 million, or ¥25.10 per share.

As of May 27, US$1 was equivalent to ¥123.75.