Nippon Flour Mills Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥17.68 per share, an increase of 5.9% from ¥16.69 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.46 billion, a gain of 6.0% from ¥1.38 billion in the prior-year period.

The normalized profit margin rose to 2.0% from 1.9% in the year-earlier period.

Total revenue climbed on an annual basis to ¥73.28 billion from ¥71.42 billion, and total operating expenses climbed on an annual basis to ¥71.10 billion from ¥69.31 billion.

Reported net income grew 34.4% from the prior-year period to ¥1.67 billion, or ¥20.16 per share, from ¥1.24 billion, or ¥15.01 per share.

For the year, the company's normalized net income totaled ¥72.23 per share, a decline of 20.6% from ¥91.01 per share in the prior year.

Normalized net income was ¥5.97 billion, a decline of 20.6% from ¥7.53 billion in the prior year.

Full-year total revenue increased on an annual basis to ¥298.51 billion from ¥287.11 billion, and total operating expenses increased on an annual basis to ¥290.10 billion from ¥276.30 billion.

The company said reported net income decreased 10.6% year over year to ¥6.98 billion, or ¥84.40 per share, in the full year, from ¥7.81 billion, or ¥94.44 per share.

As of June 26, US$1 was equivalent to ¥123.96.