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F-Tech fiscal Q4 profit falls YOY

F-Tech Inc. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥47.46 per share, a decrease of 14.4% from ¥55.47 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥749.4 million, a decrease of 6.3% from ¥799.9 million in the year-earlier period.

The normalized profit margin declined to 1.6% from 1.8% in the year-earlier period.

Total revenue grew 5.8% on an annual basis to ¥47.88 billion from ¥45.26 billion, and total operating expenses increased 6.0% from the prior-year period to ¥45.94 billion from ¥43.32 billion.

Reported net income decreased 25.1% from the prior-year period to ¥643.3 million, or ¥40.74 per share, from ¥859.0 million, or ¥59.57 per share.

For the year, the company's normalized net income totaled ¥145.00 per share, a fall of 36.0% from ¥226.71 per share in the prior year.

Normalized net income was ¥2.24 billion, a decline of 23.2% from ¥2.92 billion in the prior year.

Full-year total revenue increased from the prior-year period to ¥175.58 billion from ¥172.46 billion, and total operating expenses grew year over year to ¥170.01 billion from ¥165.73 billion.

The company said reported net income fell 46.6% on an annual basis to ¥1.77 billion, or ¥114.60 per share, in the full year, from ¥3.32 billion, or ¥257.83 per share.

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