United Arrows Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥37.40 per share, a decrease of 31.6% from ¥54.66 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.18 billion, a decrease of 32.5% from ¥1.74 billion in the year-earlier period.
The normalized profit margin dropped to 3.4% from 5.0% in the year-earlier period.
Total revenue totaled ¥34.63 billion, compared with ¥34.85 billion in the prior-year period, and total operating expenses grew from the prior-year period to ¥32.86 billion from ¥32.13 billion.
Reported net income fell 62.5% on an annual basis to ¥572.0 million, or ¥18.21 per share, from ¥1.52 billion, or ¥47.86 per share.
For the year, the company's normalized net income totaled ¥227.30 per share, a decline of 15.7% from ¥269.74 per share in the prior year.
Normalized net income was ¥7.21 billion, a fall of 16.0% from ¥8.59 billion in the prior year.
Full-year total revenue rose year over year to ¥131.03 billion from ¥128.49 billion, and total operating expenses increased year over year to ¥119.68 billion from ¥114.84 billion.
The company said reported net income fell 20.1% on an annual basis to ¥6.33 billion, or ¥199.52 per share, in the full year, from ¥7.92 billion, or ¥248.79 per share.
As of June 24, US$1 was equivalent to ¥124.31.