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Fuji Nihon Seito swings to profit in fiscal Q4

Fuji Nihon Seito Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥1.93 per share, compared with a loss of 49 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥51.9 million, compared with a loss of ¥13.3 million in the year-earlier period.

The normalized profit margin increased to 1.2% from negative 0.3% in the year-earlier period.

Total revenue totaled ¥4.45 billion, compared with ¥4.41 billion in the prior-year period, and total operating expenses decreased from the prior-year period to ¥4.39 billion from ¥4.47 billion.

Reported net income totaled ¥27.0 million, or ¥1.01 per share, compared to a loss of ¥16.0 million, or a loss of 60 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥26.88 per share, an increase of 20.1% from ¥22.38 per share in the prior year.

Normalized net income was ¥721.8 million, an increase of 20.1% from ¥601.0 million in the prior year.

Full-year total revenue rose on an annual basis to ¥19.31 billion from ¥19.04 billion, and total operating expenses came to ¥18.35 billion, compared with ¥18.39 billion in the prior-year period.

The company said reported net income increased 9.7% on an annual basis to ¥623.0 million, or ¥23.20 per share, in the full year, from ¥568.0 million, or ¥21.15 per share.

As of June 22, US$1 was equivalent to ¥104.73.