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ICDA Holdings fiscal Q4 profit falls YOY

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ICDA Holdings fiscal Q4 profit falls YOY

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.