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Hohsui Corp. swings to profit in fiscal Q4

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Hohsui Corp. swings to profit in fiscal Q4

Hohsui Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥2.66 per share, compared with a loss of ¥8.18 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥22.3 million, compared with a loss of ¥68.5 million in the prior-year period.

The normalized profit margin rose to 0.1% from negative 0.6% in the year-earlier period.

Total revenue grew 34.8% year over year to ¥16.61 billion from ¥12.33 billion, and total operating expenses rose 32.9% year over year to ¥16.57 billion from ¥12.47 billion.

Reported net income came to a loss of ¥397.0 million, or a loss of ¥47.41 per share, compared to a loss of ¥74.0 million, or a loss of ¥8.84 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥19.81 per share, a gain of 13.6% from ¥17.43 per share in the prior year.

Normalized net income was ¥165.9 million, a rise of 13.6% from ¥146.0 million in the prior year.

Full-year total revenue grew 33.5% year over year to ¥67.39 billion from ¥50.49 billion, and total operating expenses increased 33.5% year over year to ¥67.16 billion from ¥50.29 billion.

The company said reported net income came to a loss of ¥295.0 million, or a loss of ¥35.23 per share, in the full year, compared with income of ¥125.0 million, or ¥14.93 per share, the prior year.

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