Nakayamafuku Co. Ltd. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥19.76 per share, a decline of 15.3% from ¥23.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥398.8 million, a decline of 15.3% from ¥470.6 million in the prior-year period.

The normalized profit margin dropped to 3.7% from 4.3% in the year-earlier period.

Total revenue declined year over year to ¥10.68 billion from ¥10.95 billion, and total operating expenses declined year over year to ¥10.24 billion from ¥10.40 billion.

Reported net income fell 35.6% year over year to ¥284.0 million, or ¥14.07 per share, from ¥441.0 million, or ¥21.85 per share.

For the year, the company's normalized net income totaled ¥63.98 per share, a fall of 7.9% from ¥69.47 per share in the prior year.

Normalized net income was ¥1.29 billion, a decrease of 7.9% from ¥1.40 billion in the prior year.

Full-year total revenue fell on an annual basis to ¥44.49 billion from ¥45.13 billion, and total operating expenses totaled ¥43.30 billion, compared with ¥43.71 billion in the year-earlier period.

The company said reported net income declined 18.0% on an annual basis to ¥1.15 billion, or ¥56.74 per share, in the full year, from ¥1.40 billion, or ¥69.17 per share.

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