Shimojima Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥7.67 per share, a decrease of 46.8% from ¥14.41 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥180.0 million, a decrease of 46.8% from ¥338.1 million in the year-earlier period.

The normalized profit margin declined to 1.6% from 2.8% in the year-earlier period.

Total revenue decreased 7.3% year over year to ¥11.05 billion from ¥11.93 billion, and total operating expenses decreased 5.5% on an annual basis to ¥10.83 billion from ¥11.47 billion.

Reported net income fell 74.8% from the prior-year period to ¥67.0 million, or ¥2.85 per share, from ¥266.0 million, or ¥11.33 per share.

For the year, the company's normalized net income totaled ¥44.29 per share, a decrease of 23.9% from ¥58.23 per share in the prior year.

Normalized net income was ¥1.04 billion, a fall of 23.9% from ¥1.37 billion in the prior year.

Full-year total revenue fell from the prior-year period to ¥47.43 billion from ¥49.36 billion, and total operating expenses decreased year over year to ¥46.09 billion from ¥47.37 billion.

The company said reported net income decreased 36.0% on an annual basis to ¥813.0 million, or ¥34.64 per share, in the full year, from ¥1.27 billion, or ¥54.15 per share.

As of June 25, US$1 was equivalent to ¥123.71.