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Chuo Spring fiscal Q4 profit falls YOY

Chuo Spring Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥21.02 per share, a decline of 72.2% from ¥75.60 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥131.8 million, a decrease of 72.2% from ¥474.1 million in the prior-year period.

The normalized profit margin dropped to 0.6% from 2.2% in the year-earlier period.

Total revenue declined year over year to ¥20.63 billion from ¥21.52 billion, and total operating expenses decreased on an annual basis to ¥20.38 billion from ¥20.67 billion.

Reported net income decreased 75.1% year over year to ¥98.0 million, or ¥15.63 per share, from ¥393.0 million, or ¥62.67 per share.

For the year, the company's normalized net income totaled ¥256.57 per share, an increase of 5.5% from ¥243.30 per share in the prior year.

Normalized net income was ¥1.61 billion, a rise of 5.4% from ¥1.53 billion in the prior year.

Full-year total revenue totaled ¥85.53 billion, compared with ¥84.91 billion in the prior year, and total operating expenses increased on an annual basis to ¥84.31 billion from ¥83.12 billion.

The company said reported net income rose 99.9% year over year to ¥1.62 billion, or ¥258.22 per share, in the full year, from ¥810.0 million, or ¥129.15 per share.

As of June 30, US$1 was equivalent to ¥122.43.