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Daikin Industries fiscal Q4 profit climbs 17.6% YOY

Daikin Industries Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥81.79 per share, an increase of 17.6% from ¥69.54 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥23.89 billion, a gain of 17.6% from ¥20.31 billion in the year-earlier period.

The normalized profit margin rose to 5.0% from 4.5% in the year-earlier period.

Total revenue increased 7.2% year over year to ¥482.33 billion from ¥450.14 billion, and total operating expenses climbed 6.4% on an annual basis to ¥440.98 billion from ¥414.62 billion.

Reported net income grew 44.3% from the prior-year period to ¥25.75 billion, or ¥88.15 per share, from ¥17.84 billion, or ¥61.09 per share.

For the year, the company's normalized net income totaled ¥398.98 per share, compared to EPS of ¥311.64 in the prior year.

Normalized net income was ¥116.53 billion, a gain from ¥90.95 billion in the prior year.

Full-year total revenue rose year over year to ¥1.915 trillion from ¥1.783 trillion, and total operating expenses grew year over year to ¥1.724 trillion from ¥1.628 trillion.

The company said reported net income grew year over year to ¥119.67 billion, or ¥409.75 per share, in the full year, from ¥91.88 billion, or ¥314.83 per share.

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