Yorozu Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥54.34 per share, a decline of 38.9% from ¥88.99 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.35 billion, a decline of 25.1% from ¥1.81 billion in the year-earlier period.

The normalized profit margin declined to 3.2% from 4.6% in the year-earlier period.

Total revenue rose 9.7% on an annual basis to ¥42.76 billion from ¥38.98 billion, and total operating expenses rose 10.3% on an annual basis to ¥39.32 billion from ¥35.65 billion.

Reported net income fell 31.3% from the prior-year period to ¥1.48 billion, or ¥59.55 per share, from ¥2.16 billion, or ¥106.35 per share.

For the year, the company's normalized net income totaled ¥266.12 per share, a gain of 6.7% from ¥249.46 per share in the prior year.

Normalized net income was ¥6.11 billion, an increase of 20.6% from ¥5.07 billion in the prior year.

Full-year total revenue rose 8.9% from the prior-year period to ¥150.72 billion from ¥138.34 billion, and total operating expenses increased 9.4% year over year to ¥142.53 billion from ¥130.31 billion.

The company said reported net income grew 12.4% on an annual basis to ¥5.78 billion, or ¥251.53 per share, in the full year, from ¥5.14 billion, or ¥253.10 per share.

As of June 19, US$1 was equivalent to ¥122.78.