Yokohama Reito Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Sept. 30 was ¥8.98 per share, an increase of 5.3% from ¥8.53 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥530.9 million, a gain of 5.3% from ¥504.1 million in the prior-year period.
The normalized profit margin increased to 1.5% from 1.3% in the year-earlier period.
Total revenue declined 9.8% year over year to ¥36.27 billion from ¥40.22 billion, and total operating expenses fell 10.3% from the prior-year period to ¥35.32 billion from ¥39.39 billion.
Reported net income declined 88.9% year over year to ¥52.1 million, or 88 sen per share, from ¥468.8 million, or ¥7.93 per share.
For the year, the company's normalized net income totaled ¥56.27 per share, an increase of 33.8% from ¥42.07 per share in the prior year.
Normalized net income was ¥3.33 billion, an increase of 33.8% from ¥2.49 billion in the prior year.
Full-year total revenue decreased on an annual basis to ¥148.61 billion from ¥154.77 billion, and total operating expenses fell year over year to ¥143.44 billion from ¥150.89 billion.
The company said reported net income grew 16.5% on an annual basis to ¥2.93 billion, or ¥49.60 per share, in the full year, from ¥2.52 billion, or ¥42.59 per share.
As of Dec. 26, US$1 was equivalent to ¥117.14.