Mitsui Home Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥74.67 per share, a decrease of 9.1% from ¥82.11 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.95 billion, a decline of 9.1% from ¥5.44 billion in the year-earlier period.

The normalized profit margin dropped to 5.4% from 5.8% in the year-earlier period.

Total revenue decreased year over year to ¥91.23 billion from ¥93.71 billion, and total operating expenses fell from the prior-year period to ¥83.39 billion from ¥85.14 billion.

Reported net income fell 5.2% on an annual basis to ¥4.87 billion, or ¥73.42 per share, from ¥5.13 billion, or ¥77.47 per share.

For the year, the company's normalized net income totaled ¥39.74 per share, a fall of 6.9% from ¥42.69 per share in the prior year.

Normalized net income was ¥2.63 billion, a decrease of 6.9% from ¥2.83 billion in the prior year.

Full-year total revenue grew on an annual basis to ¥252.96 billion from ¥247.23 billion, and total operating expenses rose year over year to ¥248.99 billion from ¥243.04 billion.

The company said reported net income declined on an annual basis to ¥1.84 billion, or ¥27.81 per share, in the full year, from ¥1.88 billion, or ¥28.36 per share.

As of June 24, US$1 was equivalent to ¥124.31.