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Hard Off fiscal Q4 profit falls YOY

Hard Off Corp. Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥20.72 per share, a decline from ¥21.51 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥279.4 million, a decrease from ¥290.0 million in the prior-year period.

The normalized profit margin dropped to 6.1% from 6.6% in the year-earlier period.

Total revenue increased year over year to ¥4.57 billion from ¥4.42 billion, and total operating expenses climbed from the prior-year period to ¥4.15 billion from ¥3.97 billion.

Reported net income fell 69.4% on an annual basis to ¥146.0 million, or ¥10.83 per share, from ¥477.0 million, or ¥35.37 per share.

For the year, the company's normalized net income totaled ¥102.30 per share, a gain of 24.6% from ¥82.13 per share in the prior year.

Normalized net income was ¥1.38 billion, a gain of 24.5% from ¥1.11 billion in the prior year.

Full-year total revenue rose 8.1% year over year to ¥18.19 billion from ¥16.82 billion, and total operating expenses rose 6.0% on an annual basis to ¥16.14 billion from ¥15.23 billion.

The company said reported net income rose year over year to ¥1.33 billion, or ¥98.78 per share, in the full year, from ¥1.32 billion, or ¥97.74 per share.

As of June 23, US$1 was equivalent to ¥105.69.