Halows Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥31.31 per share, an increase from ¥30.59 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥565.6 million, a gain from ¥555.0 million in the year-earlier period.

The normalized profit margin declined to 2.3% from 2.4% in the year-earlier period.

Total revenue increased on an annual basis to ¥24.38 billion from ¥23.53 billion, and total operating expenses grew from the prior-year period to ¥23.46 billion from ¥22.64 billion.

Reported net income increased 7.1% from the prior-year period to ¥617.0 million, or ¥34.16 per share, from ¥576.0 million, or ¥31.75 per share.

For the year, the company's normalized net income totaled ¥115.71 per share, a gain of 13.2% from ¥102.24 per share in the prior year.

Normalized net income was ¥2.10 billion, a rise of 13.0% from ¥1.85 billion in the prior year.

Full-year total revenue increased 5.6% on an annual basis to ¥95.66 billion from ¥90.62 billion, and total operating expenses increased 5.3% year over year to ¥92.21 billion from ¥87.58 billion.

The company said reported net income grew 17.2% year over year to ¥2.10 billion, or ¥115.83 per share, in the full year, from ¥1.79 billion, or ¥98.71 per share.

As of May 29, US$1 was equivalent to ¥124.15.