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Shinnaigai Textile fiscal Q4 profit falls YOY

Shinnaigai Textile Ltd. said its normalized net income for the fiscal fourth quarter ended March 25 came to ¥11.82 per share, a decrease of 15.9% from ¥14.06 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥23.1 million, a decline of 15.9% from ¥27.5 million in the prior-year period.

The normalized profit margin declined to 1.3% from 2.0% in the year-earlier period.

Total revenue increased 31.4% year over year to ¥1.77 billion from ¥1.34 billion, and total operating expenses grew 34.0% year over year to ¥1.74 billion from ¥1.30 billion.

Reported net income decreased 33.3% from the prior-year period to ¥18.0 million, or ¥9.20 per share, from ¥27.0 million, or ¥13.80 per share.

For the year, the company's normalized net income totaled ¥59.23 per share, an increase from ¥56.86 per share in the prior year.

Normalized net income was ¥115.9 million, a rise from ¥111.3 million in the prior year.

Full-year total revenue grew 34.3% year over year to ¥7.29 billion from ¥5.43 billion, and total operating expenses grew 35.4% year over year to ¥7.11 billion from ¥5.25 billion.

The company said reported net income rose year over year to ¥108.0 million, or ¥55.21 per share, in the full year, from ¥106.0 million, or ¥54.18 per share.

As of June 22, US$1 was equivalent to ¥123.23.