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Cawachi fiscal Q4 profit climbs YOY

Cawachi Ltd. said its normalized net income for the fiscal fourth quarter ended March 15 amounted to ¥46.06 per share, a gain from ¥10.38 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.07 billion, an increase from ¥240.0 million in the prior-year period.

The normalized profit margin increased to 1.7% from 0.4% in the year-earlier period.

Total revenue rose year over year to ¥64.13 billion from ¥61.85 billion, and total operating expenses rose on an annual basis to ¥62.74 billion from ¥61.73 billion.

Reported net income came to a loss of ¥520.6 million, or a loss of ¥22.50 per share, compared to income of ¥222.0 million, or ¥9.60 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥158.64 per share, a gain of 55.0% from ¥102.33 per share in the prior year.

Normalized net income was ¥3.67 billion, an increase of 55.2% from ¥2.37 billion in the prior year.

Full-year total revenue amounted to ¥260.62 billion, compared with ¥258.32 billion in the prior year, and total operating expenses came to ¥256.18 billion, compared with ¥255.69 billion in the year-earlier period.

The company said reported net income came to ¥1.98 billion, or ¥85.34 per share, in the full year, compared with a loss of ¥4.67 billion, or a loss of ¥202.09 per share, the prior year.

As of June 8, US$1 was equivalent to ¥106.65.