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NH Foods fiscal Q4 profit falls YOY

NH Foods Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥4.04 per share, a decrease of 80.1% from ¥20.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥878.6 million, a decrease of 80.2% from ¥4.44 billion in the prior-year period.

The normalized profit margin fell to 0.3% from 1.7% in the year-earlier period.

Total revenue climbed 7.5% year over year to ¥280.00 billion from ¥260.56 billion, and total operating expenses increased 8.2% from the prior-year period to ¥275.52 billion from ¥254.66 billion.

Reported net income decreased 95.0% on an annual basis to ¥271.0 million, or ¥1.25 per share, from ¥5.39 billion, or ¥24.63 per share.

For the year, the company's normalized net income totaled ¥127.94 per share, an increase of 27.8% from ¥100.14 per share in the prior year.

Normalized net income was ¥27.81 billion, an increase of 25.5% from ¥22.16 billion in the prior year.

Full-year total revenue increased 8.1% from the prior-year period to ¥1.213 trillion from ¥1.122 trillion, and total operating expenses grew 7.2% year over year to ¥1.164 trillion from ¥1.086 trillion.

The company said reported net income rose 26.7% year over year to ¥31.10 billion, or ¥143.11 per share, in the full year, from ¥24.54 billion, or ¥110.92 per share.

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