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Akikawa Foods & Farms fiscal Q4 profit climbs YOY

Akikawa Foods & Farms Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥3.45 per share, an increase from 75 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥14.4 million, a gain from ¥3.1 million in the year-earlier period.

The normalized profit margin rose to 1.2% from 0.3% in the year-earlier period.

Total revenue climbed year over year to ¥1.18 billion from ¥1.15 billion, and total operating expenses came to ¥1.16 billion, compared with ¥1.16 billion in the prior-year period.

Reported net income totaled ¥12.0 million, or ¥2.88 per share, compared to a loss of ¥3.0 million, or a loss of 72 sen per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥10.64 per share, an increase from ¥5.09 per share in the prior year.

Normalized net income was ¥44.4 million, an increase from ¥21.3 million in the prior year.

Full-year total revenue grew 6.0% from the prior-year period to ¥4.83 billion from ¥4.56 billion, and total operating expenses increased year over year to ¥4.76 billion from ¥4.56 billion.

The company said reported net income grew on an annual basis to ¥46.0 million, or ¥11.03 per share, in the full year, from ¥17.0 million, or ¥4.07 per share.

As of June 24, US$1 was equivalent to ¥124.31.