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Aisin Seiki fiscal Q4 profit climbs 13.6% YOY

Aisin Seiki Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥75.37 per share, an increase of 13.4% from ¥66.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥21.35 billion, a gain of 13.6% from ¥18.80 billion in the prior-year period.

The normalized profit margin increased to 2.8% from 2.6% in the year-earlier period.

Total revenue rose 7.3% on an annual basis to ¥772.65 billion from ¥720.38 billion, and total operating expenses climbed 6.4% on an annual basis to ¥722.43 billion from ¥678.94 billion.

Reported net income grew 13.6% year over year to ¥20.14 billion, or ¥71.10 per share, from ¥17.73 billion, or ¥62.68 per share.

For the year, the company's normalized net income totaled ¥276.96 per share, compared to EPS of ¥283.47 in the prior year.

Normalized net income was ¥78.40 billion, a decline from ¥80.18 billion in the prior year.

Full-year total revenue rose year over year to ¥2.964 trillion from ¥2.822 trillion, and total operating expenses rose year over year to ¥2.798 trillion from ¥2.651 trillion.

The company said reported net income declined year over year to ¥77.32 billion, or ¥273.15 per share, in the full year, from ¥90.09 billion, or ¥318.51 per share.

As of June 19, US$1 was equivalent to ¥122.78.