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Morozoff fiscal Q4 profit climbs YOY

Morozoff Ltd. said its normalized net income for the fiscal fourth quarter ended Jan. 31 was ¥187.80 per share, a gain from ¥180.86 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥680.6 million, an increase from ¥655.6 million in the prior-year period.

The normalized profit margin climbed to 6.9% from 6.7% in the year-earlier period.

Total revenue came to ¥9.88 billion, compared with ¥9.84 billion in the year-earlier period, and total operating expenses came to ¥8.77 billion, compared with ¥8.80 billion in the prior-year period.

Reported net income declined on an annual basis to ¥647.0 million, or ¥178.52 per share, from ¥658.0 million, or ¥181.52 per share.

For the year, the company's normalized net income totaled ¥138.12 per share, a decline of 10.1% from ¥153.61 per share in the prior year.

Normalized net income was ¥500.6 million, a fall of 10.1% from ¥556.9 million in the prior year.

Full-year total revenue amounted to ¥27.73 billion, compared with ¥27.92 billion in the prior year, and total operating expenses came to ¥27.01 billion, compared with ¥27.12 billion in the year-earlier period.

The company said reported net income fell 14.3% on an annual basis to ¥402.0 million, or ¥110.91 per share, in the full year, from ¥469.0 million, or ¥129.37 per share.

As of April 27, US$1 was equivalent to ¥119.12.