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Musashi Seimitsu fiscal Q4 profit climbs 51.8% YOY

Musashi Seimitsu Industry Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥56.30 per share, a gain of 51.7% from ¥37.12 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.92 billion, an increase of 51.8% from ¥1.26 billion in the year-earlier period.

The normalized profit margin climbed to 4.6% from 3.3% in the year-earlier period.

Total revenue rose 7.6% on an annual basis to ¥41.59 billion from ¥38.67 billion, and total operating expenses increased from the prior-year period to ¥38.07 billion from ¥36.33 billion.

Reported net income declined 52.9% from the prior-year period to ¥1.01 billion, or ¥29.74 per share, from ¥2.15 billion, or ¥63.15 per share.

For the year, the company's normalized net income totaled ¥189.48 per share, a gain of 47.0% from ¥128.94 per share in the prior year.

Normalized net income was ¥6.46 billion, a gain of 56.0% from ¥4.14 billion in the prior year.

Full-year total revenue increased 6.3% from the prior-year period to ¥158.21 billion from ¥148.82 billion, and total operating expenses rose on an annual basis to ¥146.62 billion from ¥140.25 billion.

The company said reported net income fell 6.6% on an annual basis to ¥6.37 billion, or ¥186.89 per share, in the full year, from ¥6.83 billion, or ¥212.50 per share.

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