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Dainichi fiscal Q4 loss narrows YOY

Dainichi Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to a loss of ¥37.75 per share, compared with a loss of ¥45.03 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥667.5 million, compared with a loss of ¥796.3 million in the prior-year period.

The normalized profit margin declined to negative 95.1% from negative 57.8% in the year-earlier period.

Total revenue decreased 49.0% year over year to ¥702.0 million from ¥1.38 billion, and total operating expenses fell 32.2% from the prior-year period to ¥1.76 billion from ¥2.59 billion.

Reported net income came to a loss of ¥748.0 million, or a loss of ¥42.30 per share, compared to a loss of ¥569.0 million, or a loss of ¥32.18 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥14.24 per share, an increase of 28.8% from ¥11.06 per share in the prior year.

Normalized net income was ¥251.9 million, an increase of 28.8% from ¥195.6 million in the prior year.

Full-year total revenue declined 7.3% year over year to ¥17.59 billion from ¥18.97 billion, and total operating expenses declined 7.4% on an annual basis to ¥17.22 billion from ¥18.59 billion.

The company said reported net income decreased 38.1% year over year to ¥288.0 million, or ¥16.29 per share, in the full year, from ¥465.0 million, or ¥26.29 per share.

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