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Jeco fiscal Q4 profit falls YOY

Jeco Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥163.79 per share, a decline of 56.6% from ¥377.29 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥273.0 million, a decline of 56.6% from ¥629.1 million in the prior-year period.

The normalized profit margin dropped to 4.1% from 8.5% in the year-earlier period.

Total revenue fell 11.3% year over year to ¥6.60 billion from ¥7.45 billion, and total operating expenses fell 5.6% year over year to ¥6.15 billion from ¥6.52 billion.

Reported net income fell 59.8% year over year to ¥302.0 million, or ¥181.19 per share, from ¥752.0 million, or ¥450.97 per share.

For the year, the company's normalized net income totaled ¥663.13 per share, a decline of 23.5% from ¥867.17 per share in the prior year.

Normalized net income was ¥1.11 billion, a decline of 23.7% from ¥1.45 billion in the prior year.

Full-year total revenue fell from the prior-year period to ¥24.49 billion from ¥25.15 billion, and total operating expenses totaled ¥22.94 billion, compared with ¥22.95 billion in the year-earlier period.

The company said reported net income decreased 19.7% on an annual basis to ¥1.32 billion, or ¥789.39 per share, in the full year, from ¥1.64 billion, or ¥980.79 per share.

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