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Koito Manufacturing fiscal Q4 profit climbs 18.3% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥96.06 per share, a gain of 18.3% from ¥81.21 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥15.44 billion, a gain of 18.3% from ¥13.05 billion in the year-earlier period.

The normalized profit margin rose to 6.5% from 6.0% in the year-earlier period.

Total revenue increased 9.5% year over year to ¥238.31 billion from ¥217.56 billion, and total operating expenses rose 9.6% year over year to ¥209.37 billion from ¥191.02 billion.

Reported net income rose year over year to ¥16.75 billion, or ¥104.22 per share, from ¥16.57 billion, or ¥103.07 per share.

For the year, the company's normalized net income totaled ¥316.41 per share, compared to EPS of ¥290.56 in the prior year.

Normalized net income was ¥50.86 billion, a rise from ¥46.70 billion in the prior year.

Full-year total revenue grew from the prior-year period to ¥841.46 billion from ¥813.48 billion, and total operating expenses rose year over year to ¥748.93 billion from ¥731.32 billion.

The company said reported net income grew year over year to ¥56.69 billion, or ¥352.66 per share, in the full year, from ¥46.30 billion, or ¥288.07 per share.

As of June 30, US$1 was equivalent to ¥112.37.