Yachiyo Industry Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥45.47 per share, a decrease of 25.2% from ¥60.80 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.09 billion, a decrease of 25.2% from ¥1.46 billion in the prior-year period.

The normalized profit margin declined to 2.1% from 2.2% in the year-earlier period.

Total revenue decreased 18.9% year over year to ¥52.90 billion from ¥65.22 billion, and total operating expenses decreased 18.3% from the prior-year period to ¥50.58 billion from ¥61.89 billion.

Reported net income totaled a loss of ¥2.16 billion, or a loss of ¥90.12 per share, compared to a loss of ¥1.13 billion, or a loss of ¥47.06 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥316.42 per share, an increase of 80.3% from ¥175.52 per share in the prior year.

Normalized net income was ¥7.60 billion, an increase of 80.3% from ¥4.21 billion in the prior year.

Full-year total revenue declined 40.2% year over year to ¥150.22 billion from ¥251.17 billion, and total operating expenses fell 43.9% on an annual basis to ¥135.73 billion from ¥241.85 billion.

The company said reported net income grew on an annual basis to ¥7.97 billion, or ¥331.77 per share, in the full year, from ¥1.09 billion, or ¥45.52 per share.

As of June 23, US$1 was equivalent to ¥123.88.