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Goyo Foods Industry fiscal Q4 profit climbs YOY

Goyo Foods Industry Co. Ltd. said its normalized net income for the fiscal fourth quarter ended May 31 amounted to ¥7.90 per share, an increase from ¥1.98 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥7.5 million, a gain from ¥1.9 million in the year-earlier period.

The normalized profit margin climbed to 1.8% from 0.5% in the year-earlier period.

Total revenue rose 13.1% on an annual basis to ¥410.0 million from ¥362.5 million, and total operating expenses climbed 11.8% year over year to ¥392.0 million from ¥350.5 million.

Reported net income increased on an annual basis to ¥16.0 million, or ¥16.86 per share, from ¥4.0 million, or ¥4.21 per share.

For the year, the company's normalized net income totaled ¥25.02 per share, compared with a loss of ¥27.65 per share in the prior year.

Normalized net income was ¥23.8 million, compared with a loss of ¥26.3 million in the prior year.

Full-year total revenue grew 22.9% on an annual basis to ¥1.64 billion from ¥1.33 billion, and total operating expenses grew 17.5% on an annual basis to ¥1.58 billion from ¥1.34 billion.

The company said reported net income totaled ¥38.0 million, or ¥40.04 per share, in the full year, compared with a loss of ¥37.0 million, or a loss of ¥38.98 per share, the prior year.

As of July 15, US$1 was equivalent to ¥123.95.