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JXTG Holdings swings to profit in fiscal Q4

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JXTG Holdings swings to profit in fiscal Q4

JXTG Holdings Inc. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥20.08 per share, compared with a loss of ¥38.59 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥49.91 billion, compared with a loss of ¥95.94 billion in the prior-year period.

The normalized profit margin rose to 4.0% from negative 11.4% in the year-earlier period.

Total revenue grew 48.2% year over year to ¥1.248 trillion from ¥841.89 billion, and total operating expenses climbed 18.4% on an annual basis to ¥1.177 trillion from ¥994.08 billion.

Reported net income came to ¥55.48 billion, or ¥22.32 per share, compared with a loss of ¥160.21 billion, or a loss of ¥64.43 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥65.00 per share, compared to EPS of a loss of ¥36.96 in the prior year.

Normalized net income was ¥161.62 billion, compared with a loss of ¥91.89 billion in the prior year.

Full-year total revenue declined year over year to ¥7.025 trillion from ¥7.531 trillion, and total operating expenses declined on an annual basis to ¥6.784 trillion from ¥7.762 trillion.

The company said reported net income totaled ¥150.01 billion, or ¥60.33 per share, in the full year, compared with a loss of ¥273.61 billion, or a loss of ¥110.04 per share, the prior year.

As of June 28, US$1 was equivalent to ¥112.08.