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Shinyei Kaisha swings to loss in fiscal Q4

Shinyei Kaisha said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥7.13 per share, compared with ¥12.27 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥26.9 million, compared with income of ¥46.3 million in the year-earlier period.

The normalized profit margin fell to negative 0.2% from 0.4% in the year-earlier period.

Total revenue fell 6.2% on an annual basis to ¥10.76 billion from ¥11.46 billion, and total operating expenses decreased from the prior-year period to ¥10.74 billion from ¥11.28 billion.

Reported net income declined 93.1% on an annual basis to ¥4.0 million, or ¥1.06 per share, from ¥58.0 million, or ¥15.39 per share.

For the year, the company's normalized net income totaled ¥75.14 per share, a gain of 61.8% from ¥46.44 per share in the prior year.

Normalized net income was ¥283.1 million, a gain of 61.8% from ¥175.0 million in the prior year.

Full-year total revenue amounted to ¥43.93 billion, compared with ¥43.76 billion in the prior year, and total operating expenses came to ¥43.39 billion, compared with ¥43.27 billion in the year-earlier period.

The company said reported net income declined 14.8% on an annual basis to ¥323.0 million, or ¥85.72 per share, in the full year, from ¥379.0 million, or ¥100.58 per share.

As of June 25, US$1 was equivalent to ¥123.71.