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Kyokuyo swings to profit in fiscal Q4

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Kyokuyo swings to profit in fiscal Q4

Kyokuyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥12.01 per share, compared with a loss of 69 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥126.1 million, compared with a loss of ¥7.9 million in the year-earlier period.

The normalized profit margin increased to 0.3% from negative 0.0% in the year-earlier period.

Total revenue rose 6.6% on an annual basis to ¥48.21 billion from ¥45.23 billion, and total operating expenses climbed 6.4% from the prior-year period to ¥48.09 billion from ¥45.19 billion.

Reported net income totaled a loss of ¥372.6 million, or a loss of ¥35.51 per share, compared to income of ¥244.0 million, or ¥21.44 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥120.29 per share, a decrease of 35.3% from ¥185.94 per share in the prior year.

Normalized net income was ¥1.37 billion, a fall of 31.6% from ¥2.00 billion in the prior year.

Full-year total revenue increased 7.9% year over year to ¥218.35 billion from ¥202.39 billion, and total operating expenses increased 8.3% on an annual basis to ¥215.94 billion from ¥199.47 billion.

The company said reported net income fell 18.0% year over year to ¥2.43 billion, or ¥213.60 per share, in the full year, from ¥2.97 billion, or ¥275.50 per share.

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