Nippon Seiki Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥41.40 per share, a decline of 11.2% from ¥46.64 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.37 billion, a decline of 11.2% from ¥2.67 billion in the prior-year period.

The normalized profit margin fell to 3.9% from 4.3% in the year-earlier period.

Total revenue declined year over year to ¥61.03 billion from ¥61.67 billion, and total operating expenses totaled ¥56.82 billion, compared with ¥56.66 billion in the prior-year period.

Reported net income fell on an annual basis to ¥2.64 billion, or ¥46.10 per share, from ¥2.68 billion, or ¥46.79 per share.

For the year, the company's normalized net income totaled ¥238.68 per share, an increase of 5.0% from ¥227.32 per share in the prior year.

Normalized net income was ¥13.68 billion, an increase of 5.0% from ¥13.03 billion in the prior year.

Full-year total revenue rose on an annual basis to ¥226.96 billion from ¥220.14 billion, and total operating expenses grew on an annual basis to ¥210.52 billion from ¥201.93 billion.

The company said reported net income rose on an annual basis to ¥14.47 billion, or ¥252.33 per share, in the full year, from ¥13.91 billion, or ¥242.56 per share.

As of June 29, US$1 was equivalent to ¥122.67.