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Izu Shaboten Resort fiscal Q4 profit climbs 63.6% YOY

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Izu Shaboten Resort fiscal Q4 profit climbs 63.6% YOY

Izu Shaboten Resort Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 came to 40 Japanese sen per share, a gain of 52.1% from 26 sen per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥11.3 million, an increase of 63.6% from ¥6.9 million in the year-earlier period.

The normalized profit margin rose to 1.9% from 1.4% in the year-earlier period.

Total revenue increased 25.3% year over year to ¥605.0 million from ¥483.0 million, and total operating expenses climbed 26.7% from the prior-year period to ¥608.0 million from ¥480.0 million.

Reported net income came to a loss of ¥2.0 million, or a loss of 7 sen per share, compared to income of ¥56.0 million, or ¥2.12 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥1.69 per share, a gain of 6.4% from ¥1.59 per share in the prior year.

Normalized net income was ¥47.5 million, an increase of 16.9% from ¥40.6 million in the prior year.

Full-year total revenue grew 18.4% year over year to ¥2.54 billion from ¥2.14 billion, and total operating expenses increased 17.6% year over year to ¥2.49 billion from ¥2.12 billion.

The company said reported net income declined 58.1% year over year to ¥39.0 million, or ¥1.39 per share, in the full year, from ¥93.0 million, or ¥3.63 per share.

As of June 23, US$1 was equivalent to ¥123.88.