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Maxvalu Chubu fiscal Q4 profit falls YOY

Maxvalu Chubu Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥18.94 per share, a decline of 5.5% from ¥20.05 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥607.4 million, a decrease from ¥636.5 million in the prior-year period.

The normalized profit margin fell to 1.4% from 1.6% in the year-earlier period.

Total revenue climbed 7.9% on an annual basis to ¥42.10 billion from ¥39.02 billion, and total operating expenses rose 8.3% on an annual basis to ¥41.29 billion from ¥38.13 billion.

Reported net income increased 66.0% from the prior-year period to ¥607.2 million, or ¥18.93 per share, from ¥365.8 million, or ¥11.52 per share.

For the year, the company's normalized net income totaled ¥15.80 per share, a decrease of 55.4% from ¥35.41 per share in the prior year.

Normalized net income was ¥501.9 million, a decrease of 55.4% from ¥1.12 billion in the prior year.

Full-year total revenue grew 7.7% from the prior-year period to ¥164.94 billion from ¥153.22 billion, and total operating expenses rose 8.5% on an annual basis to ¥164.51 billion from ¥151.61 billion.

The company said reported net income fell 46.1% year over year to ¥212.2 million, or ¥6.68 per share, in the full year, from ¥393.4 million, or ¥12.39 per share.

As of May 25, US$1 was equivalent to ¥121.48.