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Imperial Hotel fiscal Q4 profit falls YOY

Imperial Hotel Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥5.72 per share, a decrease from ¥5.87 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥339.4 million, a decrease from ¥348.1 million in the prior-year period.

The normalized profit margin dropped to 2.5% from 2.5% in the year-earlier period.

Total revenue declined on an annual basis to ¥13.52 billion from ¥13.77 billion, and total operating expenses declined year over year to ¥13.02 billion from ¥13.28 billion.

Reported net income decreased 91.0% from the prior-year period to ¥22.0 million, or 37 sen per share, from ¥245.0 million, or ¥4.13 per share.

For the year, the company's normalized net income totaled ¥43.29 per share, a gain of 5.8% from ¥40.90 per share in the prior year.

Normalized net income was ¥2.57 billion, a rise of 5.8% from ¥2.43 billion in the prior year.

Full-year total revenue rose on an annual basis to ¥53.75 billion from ¥53.16 billion, and total operating expenses came to ¥49.85 billion, compared with ¥49.58 billion in the year-earlier period.

The company said reported net income rose year over year to ¥2.42 billion, or ¥40.81 per share, in the full year, from ¥2.31 billion, or ¥39.01 per share.

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