Shiseido Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥12.36 per share, a decrease of 47.4% from ¥23.50 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.94 billion, a decrease of 47.5% from ¥9.41 billion in the prior-year period.

The normalized profit margin was 2.2%.

Total revenue decreased year over year to ¥221.92 billion from ¥226.65 billion, and total operating expenses climbed on an annual basis to ¥213.12 billion from ¥210.35 billion.

Reported net income fell 37.8% from the prior-year period to ¥5.85 billion, or ¥14.63 per share, from ¥9.40 billion, or ¥23.48 per share.

For the year, the company's normalized net income totaled ¥65.16 per share, a decrease of 12.0% from ¥74.03 per share in the prior year.

Normalized net income was ¥26.04 billion, a decline of 11.9% from ¥29.55 billion in the prior year.

Full-year total revenue rose 29.3% on an annual basis to ¥984.98 billion from ¥762.05 billion, and total operating expenses rose 31.7% year over year to ¥938.51 billion from ¥712.40 billion.

The company said reported net income grew 11.1% on an annual basis to ¥29.06 billion, or ¥72.71 per share, in the full year, from ¥26.15 billion, or ¥65.50 per share.

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