Lawson Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥74.23 per share, a decline of 13.9% from ¥86.26 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥7.42 billion, a decline of 14.0% from ¥8.63 billion in the prior-year period.

The normalized profit margin declined to 5.5% from 7.5% in the year-earlier period.

Total revenue rose 17.6% on an annual basis to ¥135.45 billion from ¥115.21 billion, and total operating expenses climbed 22.5% on an annual basis to ¥124.75 billion from ¥101.86 billion.

Reported net income came to a loss of ¥262.5 million, or a loss of ¥2.63 per share, compared to income of ¥7.50 billion, or ¥74.91 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥443.59 per share, a gain from ¥428.18 per share in the prior year.

Normalized net income was ¥44.39 billion, a rise from ¥42.85 billion in the prior year.

Full-year total revenue rose from the prior-year period to ¥497.91 billion from ¥485.25 billion, and total operating expenses grew on an annual basis to ¥427.43 billion from ¥417.12 billion.

The company said reported net income decreased 13.9% year over year to ¥32.69 billion, or ¥326.65 per share, in the full year, from ¥37.96 billion, or ¥379.35 per share.

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