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KYB Corp. fiscal Q4 profit falls YOY

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KYB Corp. fiscal Q4 profit falls YOY

KYB Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥56.69 per share, a decrease of 39.2% from ¥93.28 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.45 billion, a decline of 39.1% from ¥2.38 billion in the year-earlier period.

The normalized profit margin declined to 1.5% from 2.5% in the year-earlier period.

Total revenue climbed on an annual basis to ¥97.25 billion from ¥95.87 billion, and total operating expenses climbed from the prior-year period to ¥95.37 billion from ¥92.05 billion.

Reported net income came to a loss of ¥1.14 billion, or a loss of ¥44.78 per share, compared to income of ¥1.96 billion, or ¥76.84 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥377.31 per share, a decrease of 29.2% from ¥532.89 per share in the prior year.

Normalized net income was ¥9.64 billion, a decline of 21.7% from ¥12.31 billion in the prior year.

Full-year total revenue grew 5.0% on an annual basis to ¥370.43 billion from ¥352.71 billion, and total operating expenses rose 6.7% on an annual basis to ¥356.83 billion from ¥334.54 billion.

The company said reported net income declined 44.7% year over year to ¥7.05 billion, or ¥276.01 per share, in the full year, from ¥12.76 billion, or ¥552.59 per share.

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