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Nippon Suisan Kaisha swings to profit in fiscal Q4

Nippon Suisan Kaisha Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 37 Japanese sen per share, compared with a loss of 15 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥101.0 million, compared with a loss of ¥41.4 million in the prior-year period.

The normalized profit margin rose to 0.1% from negative 0.0% in the year-earlier period.

Total revenue rose 6.9% on an annual basis to ¥166.33 billion from ¥155.55 billion, and total operating expenses rose 7.2% on an annual basis to ¥165.26 billion from ¥154.20 billion.

Reported net income came to ¥7.0 million, or 3 sen per share, compared to a loss of ¥1.85 billion, or a loss of ¥6.70 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥39.77 per share, a gain of 78.1% from ¥22.34 per share in the prior year.

Normalized net income was ¥10.99 billion, a gain of 78.0% from ¥6.17 billion in the prior year.

Full-year total revenue grew 5.7% on an annual basis to ¥638.43 billion from ¥604.25 billion, and total operating expenses grew year over year to ¥620.32 billion from ¥591.22 billion.

The company said reported net income increased year over year to ¥10.56 billion, or ¥38.22 per share, in the full year, from ¥4.00 billion, or ¥14.47 per share.

As of June 25, US$1 was equivalent to ¥123.71.