NOK Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥55.97 per share, an increase of 46.4% from ¥38.24 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥9.65 billion, a gain of 46.2% from ¥6.60 billion in the year-earlier period.

The normalized profit margin increased to 5.4% from 4.2% in the year-earlier period.

Total revenue rose 14.0% year over year to ¥180.18 billion from ¥158.06 billion, and total operating expenses rose 11.7% on an annual basis to ¥163.08 billion from ¥146.01 billion.

Reported net income increased 49.2% on an annual basis to ¥7.24 billion, or ¥41.99 per share, from ¥4.85 billion, or ¥28.11 per share.

For the year, the company's normalized net income totaled ¥261.23 per share, an increase of 93.1% from ¥135.27 per share in the prior year.

Normalized net income was ¥45.09 billion, a gain of 93.3% from ¥23.33 billion in the prior year.

Full-year total revenue grew 17.3% on an annual basis to ¥693.69 billion from ¥591.39 billion, and total operating expenses grew 12.1% year over year to ¥626.60 billion from ¥558.80 billion.

The company said reported net income grew year over year to ¥46.81 billion, or ¥271.21 per share, in the full year, from ¥21.76 billion, or ¥126.16 per share.

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