Kose Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥36.36 per share, a decline of 49.6% from ¥72.15 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.07 billion, a decline of 49.6% from ¥4.12 billion in the prior-year period.

The normalized profit margin declined to 3.2% from 7.0% in the year-earlier period.

Total revenue increased 11.0% on an annual basis to ¥64.93 billion from ¥58.51 billion, and total operating expenses increased 17.0% year over year to ¥60.63 billion from ¥51.84 billion.

Reported net income fell 70.3% on an annual basis to ¥630.0 million, or ¥11.04 per share, from ¥2.12 billion, or ¥37.23 per share.

For the year, the company's normalized net income totaled ¥338.30 per share, a gain of 33.5% from ¥253.42 per share in the prior year.

Normalized net income was ¥19.30 billion, a gain of 33.5% from ¥14.46 billion in the prior year.

Full-year total revenue grew 17.1% from the prior-year period to ¥243.39 billion from ¥207.82 billion, and total operating expenses grew 12.7% year over year to ¥208.75 billion from ¥185.17 billion.

The company said reported net income rose 54.7% on an annual basis to ¥18.66 billion, or ¥327.03 per share, in the full year, from ¥12.06 billion, or ¥211.36 per share.

As of June 29, US$1 was equivalent to ¥102.64.