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Nichiwa Sangyo fiscal Q4 profit falls YOY

Nichiwa Sangyo Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥8.09 per share, a decline of 14.7% from ¥9.48 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥156.3 million, a decrease of 14.7% from ¥183.1 million in the year-earlier period.

The normalized profit margin declined to 1.3% from 1.5% in the year-earlier period.

Total revenue increased year over year to ¥12.37 billion from ¥11.86 billion, and total operating expenses increased year over year to ¥12.16 billion from ¥11.61 billion.

Reported net income came to a loss of ¥22.0 million, or a loss of ¥1.14 per share, compared to income of ¥73.0 million, or ¥3.78 per share, in the year-earlier period.

For the year, the company's normalized net income totaled ¥25.72 per share, a gain of 98.3% from ¥12.97 per share in the prior year.

Normalized net income was ¥496.9 million, a gain of 98.3% from ¥250.6 million in the prior year.

Full-year total revenue totaled ¥48.94 billion, compared with ¥49.33 billion in the prior year, and total operating expenses decreased on an annual basis to ¥48.25 billion from ¥49.05 billion.

The company said reported net income rose on an annual basis to ¥331.0 million, or ¥17.14 per share, in the full year, from ¥155.0 million, or ¥8.02 per share.

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