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NGK Spark Plug fiscal Q4 profit climbs 6.3% YOY

NGK Spark Plug Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥42.44 per share, an increase of 6.3% from ¥39.92 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.24 billion, a gain of 6.3% from ¥8.69 billion in the year-earlier period.

The normalized profit margin fell to 10.3% from 10.3% in the year-earlier period.

Total revenue rose 6.4% on an annual basis to ¥89.77 billion from ¥84.34 billion, and total operating expenses rose 6.2% from the prior-year period to ¥74.19 billion from ¥69.84 billion.

Reported net income fell on an annual basis to ¥6.97 billion, or ¥32.04 per share, from ¥7.23 billion, or ¥33.24 per share.

For the year, the company's normalized net income totaled ¥193.75 per share, an increase of 23.9% from ¥156.43 per share in the prior year.

Normalized net income was ¥42.17 billion, an increase of 23.8% from ¥34.05 billion in the prior year.

Full-year total revenue rose 5.4% on an annual basis to ¥347.64 billion from ¥329.76 billion, and total operating expenses increased year over year to ¥285.63 billion from ¥278.35 billion.

The company said reported net income grew 12.4% on an annual basis to ¥36.75 billion, or ¥168.88 per share, in the full year, from ¥32.70 billion, or ¥150.26 per share.

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