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Tokyo Kiho swings to profit in fiscal Q4

Tokyo Kiho Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥45.23 per share, compared with a loss of ¥4.24 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥20.0 million, compared with a loss of ¥1.9 million in the year-earlier period.

The normalized profit margin increased to 1.4% from negative 0.1% in the year-earlier period.

Total revenue decreased 17.0% on an annual basis to ¥1.44 billion from ¥1.73 billion, and total operating expenses decreased 19.0% year over year to ¥1.40 billion from ¥1.73 billion.

Reported net income came to ¥58.0 million, or ¥131.15 per share, compared to a loss of ¥22.0 million, or a loss of ¥49.75 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥206.34 per share, a gain of 28.1% from ¥161.09 per share in the prior year.

Normalized net income was ¥91.3 million, a gain of 28.1% from ¥71.3 million in the prior year.

Full-year total revenue decreased 9.3% on an annual basis to ¥6.04 billion from ¥6.65 billion, and total operating expenses decreased 9.5% on an annual basis to ¥5.92 billion from ¥6.55 billion.

The company said reported net income increased 91.9% year over year to ¥165.0 million, or ¥373.11 per share, in the full year, from ¥86.0 million, or ¥194.44 per share.

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