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Kintetsu Department Store fiscal Q4 profit falls YOY

Kintetsu Department Store Co. Ltd. said its normalized net income for the fiscal fourth quarter ended Feb. 28 amounted to ¥43.27 per share, a decline of 16.1% from ¥51.55 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.75 billion, a decrease of 16.1% from ¥2.08 billion in the prior-year period.

The normalized profit margin dropped to 2.3% from 2.6% in the year-earlier period.

Total revenue declined year over year to ¥75.69 billion from ¥79.30 billion, and total operating expenses fell from the prior-year period to ¥72.88 billion from ¥76.07 billion.

Reported net income totaled a loss of ¥1.37 billion, or a loss of ¥33.98 per share, compared to income of ¥2.27 billion, or ¥56.29 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥42.59 per share, a gain from ¥41.12 per share in the prior year.

Normalized net income was ¥1.72 billion, a gain from ¥1.66 billion in the prior year.

Full-year total revenue rose from the prior-year period to ¥279.90 billion from ¥277.07 billion, and total operating expenses came to ¥276.05 billion, compared with ¥273.98 billion in the prior-year period.

The company said reported net income totaled a loss of ¥2.05 billion, or a loss of ¥50.79 per share, in the full year, compared with income of ¥969.0 million, or ¥24.00 per share, the prior year.

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