Maruyoshi Center Inc. said its normalized net income for the fiscal fourth quarter ended Feb. 28 was ¥22.12 per share, an increase of 49.4% from ¥14.80 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥177.5 million, an increase of 45.8% from ¥121.8 million in the year-earlier period.

The normalized profit margin rose to 1.7% from 1.2% in the year-earlier period.

Total revenue grew on an annual basis to ¥10.58 billion from ¥10.34 billion, and total operating expenses climbed from the prior-year period to ¥10.28 billion from ¥10.13 billion.

Reported net income fell 81.1% on an annual basis to ¥21.0 million, or ¥2.62 per share, from ¥111.0 million, or ¥13.50 per share.

For the year, the company's normalized net income totaled ¥47.31 per share, an increase from ¥14.11 per share in the prior year.

Normalized net income was ¥382.3 million, a rise from ¥116.0 million in the prior year.

Full-year total revenue grew year over year to ¥41.97 billion from ¥41.20 billion, and total operating expenses came to ¥41.15 billion, compared with ¥40.77 billion in the prior-year period.

The company said reported net income increased on an annual basis to ¥152.0 million, or ¥18.81 per share, in the full year, from ¥50.0 million, or ¥6.08 per share.

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