Chiyoda Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to ¥26.02 per share, a decline of 34.2% from ¥39.53 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.01 billion, a decrease of 35.6% from ¥1.56 billion in the prior-year period.

The normalized profit margin fell to 2.8% from 4.2% in the year-earlier period.

Total revenue fell year over year to ¥35.61 billion from ¥36.85 billion, and total operating expenses fell from the prior-year period to ¥34.14 billion from ¥34.50 billion.

Reported net income decreased 52.0% from the prior-year period to ¥650.8 million, or ¥16.79 per share, from ¥1.35 billion, or ¥34.22 per share.

For the year, the company's normalized net income totaled ¥133.07 per share, a fall of 21.2% from ¥168.76 per share in the prior year.

Normalized net income was ¥5.21 billion, a fall of 22.1% from ¥6.68 billion in the prior year.

Full-year total revenue declined on an annual basis to ¥143.00 billion from ¥147.42 billion, and total operating expenses decreased year over year to ¥135.25 billion from ¥136.89 billion.

The company said reported net income decreased 28.8% on an annual basis to ¥4.17 billion, or ¥106.50 per share, in the full year, from ¥5.85 billion, or ¥147.74 per share.

As of May 22, US$1 was equivalent to ¥121.48.