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Banners Co. fiscal Q4 profit falls YOY

Banners Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥1.32 per share, a decrease of 45.9% from ¥2.43 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥25.0 million, a decrease of 48.1% from ¥48.1 million in the prior-year period.

The normalized profit margin dropped to 1.9% from 3.5% in the year-earlier period.

Total revenue decreased on an annual basis to ¥1.32 billion from ¥1.38 billion, and total operating expenses declined on an annual basis to ¥1.28 billion from ¥1.31 billion.

Reported net income declined 24.6% from the prior-year period to ¥46.0 million, or ¥2.42 per share, from ¥61.0 million, or ¥3.08 per share.

For the year, the company's normalized net income totaled ¥3.94 per share, a decline of 8.5% from ¥4.31 per share in the prior year.

Normalized net income was ¥76.3 million, a fall of 11.6% from ¥86.3 million in the prior year.

Full-year total revenue amounted to ¥4.05 billion, compared with ¥4.08 billion in the prior year, and total operating expenses came to ¥3.92 billion, compared with ¥3.93 billion in the prior-year period.

The company said reported net income rose year over year to ¥140.0 million, or ¥7.24 per share, in the full year, from ¥135.0 million, or ¥6.74 per share.

As of June 25, US$1 was equivalent to ¥123.71.