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Nissin Sugar fiscal Q4 profit climbs 21.4% YOY

Nissin Sugar Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥11.58 per share, a gain of 21.4% from ¥9.54 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥255.6 million, a gain of 21.4% from ¥210.6 million in the year-earlier period.

The normalized profit margin climbed to 2.3% from 1.8% in the year-earlier period.

Total revenue fell year over year to ¥11.27 billion from ¥11.57 billion, and total operating expenses fell on an annual basis to ¥10.95 billion from ¥11.26 billion.

Reported net income increased from the prior-year period to ¥357.0 million, or ¥16.17 per share, from ¥168.0 million, or ¥7.61 per share.

For the year, the company's normalized net income totaled ¥93.09 per share, a gain from ¥89.57 per share in the prior year.

Normalized net income was ¥2.06 billion, a gain from ¥1.98 billion in the prior year.

Full-year total revenue declined year over year to ¥49.74 billion from ¥51.88 billion, and total operating expenses decreased year over year to ¥46.90 billion from ¥49.00 billion.

The company said reported net income fell 15.3% on an annual basis to ¥1.64 billion, or ¥74.09 per share, in the full year, from ¥1.93 billion, or ¥87.44 per share.

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