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Sanyo Department Store fiscal Q4 profit falls YOY

Sanyo Department Store Co. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥80.18 per share, a decrease of 50.9% from ¥163.45 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥64.4 million, a decline of 51.0% from ¥131.3 million in the year-earlier period.

The normalized profit margin declined to 1.2% from 2.4% in the year-earlier period.

Total revenue declined on an annual basis to ¥5.32 billion from ¥5.52 billion, and total operating expenses fell year over year to ¥5.24 billion from ¥5.33 billion.

Reported net income decreased 32.9% year over year to ¥114.0 million, or ¥141.98 per share, from ¥170.0 million, or ¥211.71 per share.

For the year, the company's normalized net income totaled ¥185.26 per share, a decrease of 30.6% from ¥266.96 per share in the prior year.

Normalized net income was ¥148.8 million, a fall of 30.6% from ¥214.4 million in the prior year.

Full-year total revenue fell from the prior-year period to ¥19.49 billion from ¥19.87 billion, and total operating expenses declined year over year to ¥19.33 billion from ¥19.60 billion.

The company said reported net income fell 35.7% year over year to ¥162.0 million, or ¥201.76 per share, in the full year, from ¥252.0 million, or ¥313.82 per share.

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