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Sato Foods Industries fiscal Q4 profit climbs 5.4% YOY

Sato Foods Industries Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥21.31 per share, a gain of 5.5% from ¥20.21 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥133.1 million, an increase of 5.4% from ¥126.3 million in the prior-year period.

The normalized profit margin climbed to 9.3% from 8.5% in the year-earlier period.

Total revenue decreased year over year to ¥1.44 billion from ¥1.49 billion, and total operating expenses declined 4.9% year over year to ¥1.24 billion from ¥1.30 billion.

Reported net income increased 41.2% from the prior-year period to ¥72.0 million, or ¥11.52 per share, from ¥51.0 million, or ¥8.16 per share.

For the year, the company's normalized net income totaled ¥88.54 per share, a decline of 6.6% from ¥94.83 per share in the prior year.

Normalized net income was ¥553.1 million, a fall of 6.6% from ¥592.5 million in the prior year.

Full-year total revenue declined from the prior-year period to ¥5.74 billion from ¥5.90 billion, and total operating expenses fell year over year to ¥4.93 billion from ¥5.01 billion.

The company said reported net income rose 29.3% on an annual basis to ¥190.0 million, or ¥30.41 per share, in the full year, from ¥147.0 million, or ¥23.53 per share.

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