Daikin Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥87.80 per share, a decline of 5.9% from ¥93.34 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥25.68 billion, a decrease of 5.8% from ¥27.28 billion in the prior-year period.
The normalized profit margin declined to 4.9% from 5.5% in the year-earlier period.
Total revenue increased 6.4% year over year to ¥523.40 billion from ¥492.01 billion, and total operating expenses increased 8.7% year over year to ¥478.90 billion from ¥440.73 billion.
Reported net income declined 5.4% year over year to ¥28.57 billion, or ¥97.67 per share, from ¥30.20 billion, or ¥103.35 per share.
For the year, the company's normalized net income totaled ¥473.29 per share, compared to EPS of ¥430.74 in the prior year.
Normalized net income was ¥138.40 billion, a gain from ¥125.85 billion in the prior year.
Full-year total revenue amounted to ¥2.044 trillion, compared with ¥2.044 trillion in the prior year, and total operating expenses came to ¥1.813 trillion, compared with ¥1.826 trillion in the year-earlier period.
The company said reported net income rose on an annual basis to ¥153.94 billion, or ¥526.43 per share, in the full year, from ¥136.99 billion, or ¥468.84 per share.
As of June 29, US$1 was equivalent to ¥112.60.