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Maxvalu Kyushu fiscal Q4 profit climbs 28.1% YOY

Maxvalu Kyushu Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 29 came to ¥87.06 per share, an increase of 27.9% from ¥68.04 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥658.8 million, an increase of 28.1% from ¥514.4 million in the prior-year period.

The normalized profit margin increased to 1.6% from 1.4% in the year-earlier period.

Total revenue climbed 12.8% year over year to ¥42.40 billion from ¥37.58 billion, and total operating expenses climbed 12.4% from the prior-year period to ¥41.33 billion from ¥36.76 billion.

Reported net income grew year over year to ¥380.3 million, or ¥50.26 per share, from ¥20.6 million, or ¥2.66 per share.

For the year, the company's normalized net income totaled ¥171.96 per share, a gain of 55.9% from ¥110.33 per share in the prior year.

Normalized net income was ¥1.30 billion, a rise of 56.1% from ¥833.8 million in the prior year.

Full-year total revenue increased 9.0% on an annual basis to ¥161.05 billion from ¥147.80 billion, and total operating expenses increased 8.6% year over year to ¥159.02 billion from ¥146.49 billion.

The company said reported net income grew year over year to ¥790.2 million, or ¥104.43 per share, in the full year, from ¥153.9 million, or ¥20.32 per share.

As of May 23, US$1 was equivalent to ¥109.43.