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Sumitomo Riko fiscal Q4 profit falls YOY

Sumitomo Riko Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to ¥12.65 per share, a decline of 51.4% from ¥26.02 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.31 billion, a decline of 51.4% from ¥2.70 billion in the prior-year period.

The normalized profit margin declined to 1.2% from 2.7% in the year-earlier period.

Total revenue increased 6.8% year over year to ¥106.32 billion from ¥99.55 billion, and total operating expenses climbed 9.1% year over year to ¥102.01 billion from ¥93.53 billion.

Reported net income totaled a loss of ¥5.07 billion, or a loss of ¥48.88 per share, compared to income of ¥1.01 billion, or ¥9.70 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥34.39 per share, a decrease of 28.7% from ¥48.21 per share in the prior year.

Normalized net income was ¥3.57 billion, a decrease of 28.7% from ¥5.00 billion in the prior year.

Full-year total revenue rose 8.6% year over year to ¥400.93 billion from ¥369.09 billion, and total operating expenses grew 9.8% year over year to ¥390.44 billion from ¥355.52 billion.

The company said reported net income totaled a loss of ¥4.43 billion, or a loss of ¥42.67 per share, in the full year, compared with income of ¥4.08 billion, or ¥39.27 per share, the prior year.

As of June 19, US$1 was equivalent to ¥122.78.