Piolax Inc. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥37.08 per share, an increase of 6.7% from ¥34.76 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.33 billion, an increase from ¥1.30 billion in the year-earlier period.

The normalized profit margin declined to 8.8% from 9.0% in the year-earlier period.

Total revenue grew 6.0% on an annual basis to ¥15.20 billion from ¥14.34 billion, and total operating expenses grew 8.4% on an annual basis to ¥13.47 billion from ¥12.43 billion.

Reported net income grew 13.6% on an annual basis to ¥1.39 billion, or ¥38.79 per share, from ¥1.23 billion, or ¥32.88 per share.

For the year, the company's normalized net income totaled ¥154.39 per share, an increase of 10.3% from ¥140.01 per share in the prior year.

Normalized net income was ¥5.71 billion, a gain of 9.2% from ¥5.22 billion in the prior year.

Full-year total revenue rose 8.8% on an annual basis to ¥59.51 billion from ¥54.71 billion, and total operating expenses rose 9.1% on an annual basis to ¥51.43 billion from ¥47.15 billion.

The company said reported net income rose 10.1% year over year to ¥6.30 billion, or ¥170.41 per share, in the full year, from ¥5.72 billion, or ¥153.34 per share.

As of June 26, US$1 was equivalent to ¥123.96.