Sekisui Chemical Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 amounted to ¥27.31 per share, a decrease of 9.5% from ¥30.17 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥13.66 billion, a decrease of 11.3% from ¥15.39 billion in the year-earlier period.

The normalized profit margin dropped to 4.5% from 5.0% in the year-earlier period.

Total revenue declined on an annual basis to ¥300.78 billion from ¥308.11 billion, and total operating expenses declined on an annual basis to ¥272.89 billion from ¥280.22 billion.

Reported net income rose 20.2% on an annual basis to ¥9.11 billion, or ¥18.22 per share, from ¥7.58 billion, or ¥14.85 per share.

For the year, the company's normalized net income totaled ¥105.93 per share, an increase of 7.3% from ¥98.77 per share in the prior year.

Normalized net income was ¥53.69 billion, a rise of 5.5% from ¥50.89 billion in the prior year.

Full-year total revenue amounted to ¥1.113 trillion, compared with ¥1.111 trillion in the prior year, and total operating expenses came to ¥1.027 trillion, compared with ¥1.028 trillion in the prior-year period.

The company said reported net income rose 28.7% on an annual basis to ¥52.99 billion, or ¥104.55 per share, in the full year, from ¥41.19 billion, or ¥79.94 per share.

As of June 25, US$1 was equivalent to ¥123.71.