Nichirei Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥12.64 per share, an increase of 94.8% from ¥6.49 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.81 billion, an increase of 94.7% from ¥927.9 million in the year-earlier period.

The normalized profit margin increased to 1.4% from 0.8% in the year-earlier period.

Total revenue grew 9.3% on an annual basis to ¥131.44 billion from ¥120.30 billion, and total operating expenses increased 8.5% from the prior-year period to ¥127.51 billion from ¥117.51 billion.

Reported net income rose from the prior-year period to ¥1.90 billion, or ¥13.30 per share, from ¥418.0 million, or ¥2.92 per share.

For the year, the company's normalized net income totaled ¥64.29 per share, a gain of 14.2% from ¥56.30 per share in the prior year.

Normalized net income was ¥9.19 billion, a gain of 14.2% from ¥8.05 billion in the prior year.

Full-year total revenue grew 6.7% on an annual basis to ¥545.27 billion from ¥511.19 billion, and total operating expenses grew 6.5% on an annual basis to ¥527.65 billion from ¥495.40 billion.

The company said reported net income rose 8.8% on an annual basis to ¥9.68 billion, or ¥67.72 per share, in the full year, from ¥8.90 billion, or ¥62.25 per share.

As of June 24, US$1 was equivalent to ¥124.31.