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S. Ishimitsu & Co. fiscal Q4 profit climbs YOY

S. Ishimitsu & Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥5.87 per share, a gain from ¥2.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥45.3 million, an increase from ¥20.6 million in the prior-year period.

The normalized profit margin increased to 0.5% from 0.3% in the year-earlier period.

Total revenue grew 6.2% year over year to ¥8.71 billion from ¥8.20 billion, and total operating expenses climbed 5.6% on an annual basis to ¥8.66 billion from ¥8.20 billion.

Reported net income fell 99.0% from the prior-year period to ¥1.0 million, or 13 sen per share, from ¥104.0 million, or ¥13.49 per share.

For the year, the company's normalized net income totaled a loss of ¥11.48 per share, compared with ¥19.15 per share in the prior year.

Normalized net income was a loss of ¥88.5 million, compared with income of ¥147.6 million in the prior year.

Full-year total revenue rose from the prior-year period to ¥35.88 billion from ¥34.61 billion, and total operating expenses increased 5.0% on an annual basis to ¥36.05 billion from ¥34.33 billion.

The company said reported net income totaled a loss of ¥151.0 million, or a loss of ¥19.59 per share, in the full year, compared with income of ¥159.0 million, or ¥20.63 per share, the prior year.

As of June 30, US$1 was equivalent to ¥122.43.