Harima-Kyowa Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥35.26 per share, a decline of 18.0% from ¥42.99 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥187.8 million, a decrease of 16.4% from ¥224.6 million in the prior-year period.

The normalized profit margin dropped to 2.0% from 2.3% in the year-earlier period.

Total revenue decreased year over year to ¥9.38 billion from ¥9.75 billion, and total operating expenses declined on an annual basis to ¥9.17 billion from ¥9.48 billion.

Reported net income declined 55.0% from the prior-year period to ¥107.0 million, or ¥20.10 per share, from ¥238.0 million, or ¥45.55 per share.

For the year, the company's normalized net income totaled ¥182.73 per share, a fall of 9.5% from ¥201.89 per share in the prior year.

Normalized net income was ¥958.9 million, a decline of 9.1% from ¥1.05 billion in the prior year.

Full-year total revenue fell from the prior-year period to ¥39.09 billion from ¥39.58 billion, and total operating expenses came to ¥38.01 billion, compared with ¥38.29 billion in the year-earlier period.

The company said reported net income decreased 15.4% year over year to ¥846.0 million, or ¥161.22 per share, in the full year, from ¥1.00 billion, or ¥191.47 per share.

As of June 29, US$1 was equivalent to ¥122.67.