International Conglomerate of Distribution for Automobile Holdings Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥77.32 per share, a decline of 38.5% from ¥125.72 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥162.4 million, a decrease of 38.6% from ¥264.3 million in the prior-year period.
The normalized profit margin declined to 2.2% from 3.1% in the year-earlier period.
Total revenue declined 13.5% on an annual basis to ¥7.31 billion from ¥8.45 billion, and total operating expenses decreased 12.4% from the prior-year period to ¥7.02 billion from ¥8.01 billion.
Reported net income decreased 46.8% on an annual basis to ¥133.0 million, or ¥63.33 per share, from ¥250.0 million, or ¥118.94 per share.
For the year, the company's normalized net income totaled ¥151.31 per share, a decline of 49.9% from ¥301.84 per share in the prior year.
Normalized net income was ¥317.8 million, a fall of 48.1% from ¥612.5 million in the prior year.
Full-year total revenue decreased 8.4% on an annual basis to ¥24.52 billion from ¥26.78 billion, and total operating expenses decreased 6.9% on an annual basis to ¥23.95 billion from ¥25.72 billion.
The company said reported net income decreased 48.1% year over year to ¥288.0 million, or ¥137.15 per share, in the full year, from ¥555.0 million, or ¥273.51 per share.
As of June 26, US$1 was equivalent to ¥123.96.