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Meiko Network Japan fiscal Q4 profit climbs 5.4% YOY

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Meiko Network Japan fiscal Q4 profit climbs 5.4% YOY

Meiko Network Japan Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Aug. 31 amounted to ¥32.30 per share, an increase of 5.4% from ¥30.63 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥891.5 million, a gain of 5.4% from ¥845.6 million in the prior-year period.

The normalized profit margin declined to 15.7% from 18.6% in the year-earlier period.

Total revenue climbed 24.4% on an annual basis to ¥5.67 billion from ¥4.56 billion, and total operating expenses rose 31.4% from the prior-year period to ¥4.25 billion from ¥3.23 billion.

Reported net income rose 6.6% from the prior-year period to ¥883.0 million, or ¥31.99 per share, from ¥828.0 million, or ¥30.00 per share.

For the year, the company's normalized net income totaled ¥83.45 per share, an increase of 6.3% from ¥78.48 per share in the prior year.

Normalized net income was ¥2.30 billion, a gain of 6.3% from ¥2.17 billion in the prior year.

Full-year total revenue grew 20.6% on an annual basis to ¥18.77 billion from ¥15.56 billion, and total operating expenses increased 25.2% on an annual basis to ¥15.21 billion from ¥12.15 billion.

The company said reported net income increased 7.7% year over year to ¥2.37 billion, or ¥85.82 per share, in the full year, from ¥2.20 billion, or ¥79.66 per share.

As of Nov. 24, US$1 was equivalent to ¥122.44.