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Sun Life fiscal Q4 profit climbs 26.7% YOY

Sun Life Corp. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥47.14 per share, a gain of 26.7% from ¥37.21 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥305.6 million, a gain of 26.7% from ¥241.3 million in the prior-year period.

The normalized profit margin rose to 10.5% from 8.3% in the year-earlier period.

Total revenue totaled ¥2.92 billion, compared with ¥2.90 billion in the prior-year period, and total operating expenses declined from the prior-year period to ¥2.48 billion from ¥2.56 billion.

Reported net income fell 13.5% year over year to ¥166.0 million, or ¥25.60 per share, from ¥192.0 million, or ¥29.62 per share.

For the year, the company's normalized net income totaled ¥134.29 per share, a fall of 12.1% from ¥152.80 per share in the prior year.

Normalized net income was ¥870.6 million, a fall of 12.1% from ¥990.6 million in the prior year.

Full-year total revenue fell year over year to ¥10.93 billion from ¥11.30 billion, and total operating expenses fell year over year to ¥9.74 billion from ¥9.92 billion.

The company said reported net income decreased 18.6% year over year to ¥696.0 million, or ¥107.36 per share, in the full year, from ¥855.0 million, or ¥131.88 per share.

As of June 29, US$1 was equivalent to ¥122.67.