Japan Tobacco Inc. said its fourth-quarter normalized net income amounted to ¥51.12 per share, an increase of 37.3% from ¥37.24 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥91.61 billion, an increase of 35.3% from ¥67.72 billion in the prior-year period.
The normalized profit margin rose to 16.2% from 10.9% in the year-earlier period.
Total revenue fell 9.0% year over year to ¥564.42 billion from ¥619.96 billion, and total operating expenses decreased 18.2% on an annual basis to ¥420.05 billion from ¥513.70 billion.
Reported net income increased 18.5% from the prior-year period to ¥81.39 billion, or ¥45.42 per share, from ¥68.70 billion, or ¥37.78 per share.
For the year, the company's normalized net income totaled ¥208.18 per share, compared to EPS of ¥258.88 in the prior year.
Normalized net income was ¥373.97 billion, a decline from ¥470.80 billion in the prior year.
Full-year total revenue decreased from the prior-year period to ¥2.253 trillion from ¥2.693 trillion, and total operating expenses declined on an annual basis to ¥1.657 trillion from ¥1.949 trillion.
The company said reported net income declined on an annual basis to ¥398.17 billion, or ¥221.65 per share, in the full year, from ¥485.34 billion, or ¥266.88 per share.
As of March 29, US$1 was equivalent to ¥113.44.