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Daito Gyorui fiscal Q4 loss widens YOY

Daito Gyorui Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥35.13 per share, compared with a loss of ¥4.68 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥110.6 million, compared with a loss of ¥14.8 million in the prior-year period.

The normalized profit margin dropped to negative 0.4% from negative 0.1% in the year-earlier period.

Total revenue fell 9.4% on an annual basis to ¥25.17 billion from ¥27.79 billion, and total operating expenses fell 8.8% year over year to ¥25.34 billion from ¥27.77 billion.

Reported net income totaled a loss of ¥107.0 million, or a loss of ¥33.98 per share, compared to a loss of ¥68.0 million, or a loss of ¥21.59 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥163.94 per share, a gain of 27.2% from ¥128.91 per share in the prior year.

Normalized net income was ¥516.3 million, an increase of 27.2% from ¥406.0 million in the prior year.

Full-year total revenue declined 7.9% from the prior-year period to ¥117.44 billion from ¥127.53 billion, and total operating expenses decreased 8.0% year over year to ¥116.64 billion from ¥126.83 billion.

The company said reported net income rose 80.0% on an annual basis to ¥826.0 million, or ¥262.30 per share, in the full year, from ¥459.0 million, or ¥145.74 per share.

As of June 23, US$1 was equivalent to ¥123.88.