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Nippon Shikizai swings to loss in fiscal Q4

Nippon Shikizai Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 came to a loss of ¥48.55 per share, compared with ¥55.07 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥41.9 million, compared with income of ¥47.5 million in the year-earlier period.

The normalized profit margin dropped to negative 2.0% from 2.3% in the year-earlier period.

Total revenue decreased year over year to ¥2.04 billion from ¥2.11 billion, and total operating expenses grew year over year to ¥2.08 billion from ¥2.02 billion.

Reported net income came to a loss of ¥59.0 million, or a loss of ¥68.40 per share, compared to income of ¥81.0 million, or ¥93.91 per share, in the year-earlier period.

For the year, the company's normalized net income totaled a loss of ¥195.64 per share, compared with ¥84.05 per share in the prior year.

Normalized net income was a loss of ¥168.8 million, compared with income of ¥72.5 million in the prior year.

Full-year total revenue rose from the prior-year period to ¥7.39 billion from ¥7.30 billion, and total operating expenses rose 6.2% year over year to ¥7.60 billion from ¥7.16 billion.

The company said reported net income came to a loss of ¥235.0 million, or a loss of ¥272.45 per share, in the full year, compared with income of ¥89.0 million, or ¥103.18 per share, the prior year.

As of May 29, US$1 was equivalent to ¥124.15.