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Fujio Food System Q4 profit falls YOY

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Fujio Food System Q4 profit falls YOY

Fujio Food System Co. Ltd. said its fourth-quarter normalized net income amounted to ¥16.32 per share, a decline of 13.4% from ¥18.85 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥366.9 million, a decline of 11.6% from ¥415.0 million in the prior-year period.

The normalized profit margin fell to 4.3% from 5.2% in the year-earlier period.

Total revenue grew 7.6% year over year to ¥8.60 billion from ¥8.00 billion, and total operating expenses increased 8.6% from the prior-year period to ¥7.95 billion from ¥7.32 billion.

Reported net income grew 9.0% from the prior-year period to ¥306.1 million, or ¥13.62 per share, from ¥281.0 million, or ¥12.76 per share.

For the year, the company's normalized net income totaled ¥64.21 per share, a decline of 15.5% from ¥75.97 per share in the prior year.

Normalized net income was ¥1.42 billion, a decrease of 14.8% from ¥1.67 billion in the prior year.

Full-year total revenue rose 9.3% from the prior-year period to ¥33.32 billion from ¥30.49 billion, and total operating expenses rose 11.5% on an annual basis to ¥30.96 billion from ¥27.77 billion.

The company said reported net income declined 23.2% year over year to ¥1.08 billion, or ¥48.82 per share, in the full year, from ¥1.41 billion, or ¥64.08 per share.

As of March 30, US$1 was equivalent to ¥112.45.