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Kikkoman fiscal Q4 profit falls YOY

Kikkoman Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥16.43 per share, a decline of 22.7% from ¥21.27 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.21 billion, a decrease of 24.4% from ¥4.25 billion in the year-earlier period.

The normalized profit margin was 3.4%.

Total revenue grew 10.0% on an annual basis to ¥93.24 billion from ¥84.75 billion, and total operating expenses rose 9.6% year over year to ¥88.28 billion from ¥80.52 billion.

Reported net income increased on an annual basis to ¥1.99 billion, or ¥10.15 per share, from ¥615.1 million, or ¥3.08 per share.

For the year, the company's normalized net income totaled ¥61.44 per share, a decrease of 13.3% from ¥70.84 per share in the prior year.

Normalized net income was ¥12.09 billion, a decrease of 14.7% from ¥14.17 billion in the prior year.

Full-year total revenue rose 8.2% from the prior-year period to ¥371.34 billion from ¥343.17 billion, and total operating expenses increased 8.3% year over year to ¥345.97 billion from ¥319.32 billion.

The company said reported net income grew 22.5% on an annual basis to ¥15.38 billion, or ¥78.19 per share, in the full year, from ¥12.56 billion, or ¥62.79 per share.

As of June 24, US$1 was equivalent to ¥124.31.