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Nihon Plast swings to profit in fiscal Q4

Nihon Plast Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥42.04 per share, compared with a loss of ¥5.13 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥671.3 million, compared with a loss of ¥63.5 million in the prior-year period.

The normalized profit margin rose to 1.9% from negative 0.2% in the year-earlier period.

Total revenue climbed 19.4% year over year to ¥35.65 billion from ¥29.86 billion, and total operating expenses climbed 15.3% from the prior-year period to ¥34.60 billion from ¥30.02 billion.

Reported net income rose on an annual basis to ¥1.28 billion, or ¥80.04 per share, from ¥99.0 million, or ¥8.00 per share.

For the year, the company's normalized net income totaled ¥144.71 per share, an increase from ¥68.72 per share in the prior year.

Normalized net income was ¥1.92 billion, an increase from ¥956.3 million in the prior year.

Full-year total revenue grew 5.6% year over year to ¥123.33 billion from ¥116.76 billion, and total operating expenses rose on an annual basis to ¥120.41 billion from ¥115.28 billion.

The company said reported net income grew on an annual basis to ¥2.39 billion, or ¥179.78 per share, in the full year, from ¥1.05 billion, or ¥75.60 per share.

As of June 26, US$1 was equivalent to ¥123.96.