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Fukutome Meat Packers fiscal Q4 loss narrows YOY

Fukutome Meat Packers Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥8.42 per share, compared with a loss of ¥15.16 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥28.1 million, compared with a loss of ¥50.6 million in the prior-year period.

The normalized profit margin increased to negative 0.4% from negative 0.8% in the year-earlier period.

Total revenue grew on an annual basis to ¥6.37 billion from ¥6.27 billion, and total operating expenses grew year over year to ¥6.41 billion from ¥6.34 billion.

Reported net income came to a loss of ¥28.0 million, or a loss of ¥8.39 per share, compared to a loss of ¥80.0 million, or a loss of ¥23.96 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥66.45 per share, a gain of 10.3% from ¥60.26 per share in the prior year.

Normalized net income was ¥221.9 million, an increase of 10.2% from ¥201.3 million in the prior year.

Full-year total revenue amounted to ¥28.45 billion, compared with ¥28.29 billion in the prior year, and total operating expenses totaled ¥28.11 billion, compared with ¥27.98 billion in the prior-year period.

The company said reported net income grew 51.5% year over year to ¥206.0 million, or ¥61.70 per share, in the full year, from ¥136.0 million, or ¥40.72 per share.

As of June 22, US$1 was equivalent to ¥123.23.