Matsuya Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥11.86 per share, an increase of 20.7% from ¥9.82 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥628.3 million, an increase of 20.7% from ¥520.5 million in the year-earlier period.

The normalized profit margin rose to 2.6% from 2.4% in the year-earlier period.

Total revenue increased 8.7% year over year to ¥24.05 billion from ¥22.11 billion, and total operating expenses climbed 8.3% on an annual basis to ¥23.00 billion from ¥21.23 billion.

Reported net income declined 27.9% year over year to ¥601.0 million, or ¥11.34 per share, from ¥833.0 million, or ¥15.72 per share.

For the year, the company's normalized net income totaled ¥27.87 per share, a gain of 53.1% from ¥18.20 per share in the prior year.

Normalized net income was ¥1.48 billion, a rise of 53.1% from ¥964.3 million in the prior year.

Full-year total revenue grew 8.1% year over year to ¥81.63 billion from ¥75.49 billion, and total operating expenses rose 7.4% on an annual basis to ¥79.45 billion from ¥73.97 billion.

The company said reported net income declined year over year to ¥1.30 billion, or ¥24.61 per share, in the full year, from ¥1.33 billion, or ¥25.20 per share.

As of May 29, US$1 was equivalent to ¥124.15.