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Crops Corp. fiscal Q4 profit climbs 71.6% YOY

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Crops Corp. fiscal Q4 profit climbs 71.6% YOY

Crops Corp. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥7.96 per share, an increase of 71.6% from ¥4.64 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥76.4 million, a gain of 71.6% from ¥44.5 million in the year-earlier period.

The normalized profit margin rose to 1.0% from 0.6% in the year-earlier period.

Total revenue declined year over year to ¥7.47 billion from ¥7.61 billion, and total operating expenses declined from the prior-year period to ¥7.31 billion from ¥7.53 billion.

Reported net income increased from the prior-year period to ¥31.0 million, or ¥3.23 per share, from ¥10.0 million, or ¥1.04 per share.

For the year, the company's normalized net income totaled ¥30.73 per share, a fall of 30.1% from ¥43.96 per share in the prior year.

Normalized net income was ¥294.9 million, a fall of 30.1% from ¥421.9 million in the prior year.

Full-year total revenue increased on an annual basis to ¥27.02 billion from ¥26.72 billion, and total operating expenses rose year over year to ¥26.50 billion from ¥26.02 billion.

The company said reported net income fell 43.1% on an annual basis to ¥178.0 million, or ¥18.55 per share, in the full year, from ¥313.0 million, or ¥32.62 per share.

As of June 19, US$1 was equivalent to ¥122.78.