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IKK fiscal Q4 profit falls YOY

IKK Inc. said its normalized net income for the fiscal fourth quarter ended Oct. 31, 2016, came to ¥13.99 per share, a decline of 37.4% from ¥22.36 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥413.1 million, a decrease of 36.9% from ¥655.0 million in the year-earlier period.

The normalized profit margin fell to 8.1% from 12.7% in the year-earlier period.

Total revenue fell on an annual basis to ¥5.08 billion from ¥5.17 billion, and total operating expenses increased 7.5% year over year to ¥4.42 billion from ¥4.11 billion.

Reported net income decreased 24.4% from the prior-year period to ¥486.0 million, or ¥16.46 per share, from ¥642.6 million, or ¥21.94 per share.

For the year, the company's normalized net income totaled ¥45.99 per share, a gain from ¥44.80 per share in the prior year.

Normalized net income was ¥1.35 billion, an increase from ¥1.31 billion in the prior year.

Full-year total revenue grew 5.5% from the prior-year period to ¥17.91 billion from ¥16.98 billion, and total operating expenses increased 5.8% year over year to ¥15.73 billion from ¥14.87 billion.

The company said reported net income grew 16.9% on an annual basis to ¥1.34 billion, or ¥45.56 per share, in the full year, from ¥1.15 billion, or ¥39.30 per share.

As of Jan. 30, US$1 was equivalent to ¥113.84.