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Sotoh swings to loss in fiscal Q4

Sotoh Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥1.64 per share, compared with ¥8.62 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥20.9 million, compared with income of ¥109.8 million in the prior-year period.

The normalized profit margin fell to negative 0.8% from 4.7% in the year-earlier period.

Total revenue increased 8.3% year over year to ¥2.51 billion from ¥2.32 billion, and total operating expenses grew 7.7% year over year to ¥2.60 billion from ¥2.42 billion.

Reported net income came to a loss of ¥7.0 million, or a loss of 55 sen per share, compared to income of ¥108.0 million, or ¥8.49 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥32.61 per share, a decrease of 44.7% from ¥58.95 per share in the prior year.

Normalized net income was ¥415.0 million, a fall of 44.7% from ¥750.3 million in the prior year.

Full-year total revenue increased 8.8% from the prior-year period to ¥11.41 billion from ¥10.49 billion, and total operating expenses increased 9.1% on an annual basis to ¥10.97 billion from ¥10.06 billion.

The company said reported net income decreased 39.5% on an annual basis to ¥501.0 million, or ¥39.37 per share, in the full year, from ¥828.0 million, or ¥65.06 per share.

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