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Yagi & Co. swings to loss in fiscal Q4

Yagi & Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to a loss of ¥25.68 per share, compared with ¥17.56 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 ¥215.6 million, compared with income of ¥147.5 million in the year-earlier period.

The normalized profit margin dropped to negative 0.8% from 0.5% in the year-earlier period.

Total revenue came to ¥27.64 billion, compared with ¥27.74 billion in the year-earlier period, and total operating expenses climbed year over year to ¥28.47 billion from ¥27.67 billion.

Reported net income totaled a loss of ¥284.0 million, or a loss of ¥33.82 per share, compared to income of ¥113.0 million, or ¥13.46 per share, in the prior-year period.

For the year, the company's normalized net income totaled ¥212.63 per share, an increase of 17.5% from ¥180.92 per share in the prior year.

Normalized net income was ¥1.79 billion, a gain of 17.5% from ¥1.52 billion in the prior year.

Full-year total revenue fell on an annual basis to ¥114.06 billion from ¥120.01 billion, and total operating expenses fell 5.2% year over year to ¥112.28 billion from ¥118.42 billion.

The company said reported net income rose 43.2% year over year to ¥1.76 billion, or ¥210.05 per share, in the full year, from ¥1.23 billion, or ¥146.70 per share.

As of June 26, US$1 was equivalent to ¥123.96.