Happiness & D Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Aug. 31 was a loss of ¥20.24 per share, compared with a loss of ¥8.64 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥51.3 million, compared with a loss of ¥21.9 million in the year-earlier period.

The normalized profit margin fell to negative 1.3% from negative 0.6% in the year-earlier period.

Total revenue came to ¥3.91 billion, compared with ¥3.92 billion in the prior-year period, and total operating expenses totaled ¥3.98 billion, compared with ¥3.94 billion in the prior-year period.

Reported net income totaled a loss of ¥294.0 million, or a loss of ¥116.10 per share, compared to a loss of ¥39.0 million, or a loss of ¥15.40 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥29.12 per share, a decline of 30.0% from ¥41.58 per share in the prior year.

Normalized net income was ¥73.8 million, a decline of 30.6% from ¥106.3 million in the prior year.

Full-year total revenue amounted to ¥17.03 billion, compared with ¥16.97 billion in the prior year, and total operating expenses came to ¥16.88 billion, compared with ¥16.76 billion in the prior-year period.

The company said reported net income came to a loss of ¥214.0 million, or a loss of ¥84.50 per share, in the full year, compared with income of ¥53.0 million, or ¥20.74 per share, the prior year.

As of Nov. 29, US$1 was equivalent to ¥112.88.