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Life Corp. fiscal Q4 profit climbs 68.3% YOY

Life Corp. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥59.38 per share, an increase of 87.8% from ¥31.62 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.78 billion, a gain of 68.3% from ¥1.65 billion in the year-earlier period.

The normalized profit margin climbed to 1.8% from 1.2% in the year-earlier period.

Total revenue increased 9.4% on an annual basis to ¥152.76 billion from ¥139.63 billion, and total operating expenses climbed 8.3% from the prior-year period to ¥148.42 billion from ¥137.00 billion.

Reported net income grew 64.7% on an annual basis to ¥1.83 billion, or ¥38.98 per share, from ¥1.11 billion, or ¥21.21 per share.

For the year, the company's normalized net income totaled ¥142.43 per share, a gain of 55.0% from ¥91.91 per share in the prior year.

Normalized net income was ¥6.88 billion, a gain of 42.9% from ¥4.81 billion in the prior year.

Full-year total revenue rose 9.4% year over year to ¥584.98 billion from ¥534.92 billion, and total operating expenses rose 8.9% year over year to ¥574.11 billion from ¥527.29 billion.

The company said reported net income grew 37.3% on an annual basis to ¥5.21 billion, or ¥107.91 per share, in the full year, from ¥3.80 billion, or ¥72.51 per share.

As of May 29, US$1 was equivalent to ¥124.15.