Showa Corp. said its normalized net income for the fiscal fourth quarter ended March 31 was ¥33.75 per share, a gain of 5.9% from ¥31.87 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.56 billion, an increase of 5.9% from ¥2.42 billion in the prior-year period.

The normalized profit margin climbed to 3.9% from 3.6% in the year-earlier period.

Total revenue fell on an annual basis to ¥66.19 billion from ¥67.56 billion, and total operating expenses decreased on an annual basis to ¥61.50 billion from ¥62.98 billion.

Reported net income rose 43.6% on an annual basis to ¥3.82 billion, or ¥50.23 per share, from ¥2.66 billion, or ¥34.99 per share.

For the year, the company's normalized net income totaled ¥119.32 per share, a decrease of 13.2% from ¥137.46 per share in the prior year.

Normalized net income was ¥9.06 billion, a decrease of 13.2% from ¥10.44 billion in the prior year.

Full-year total revenue declined year over year to ¥266.41 billion from ¥272.79 billion, and total operating expenses declined on an annual basis to ¥249.52 billion from ¥252.59 billion.

The company said reported net income rose 68.7% on an annual basis to ¥11.57 billion, or ¥152.30 per share, in the full year, from ¥6.86 billion, or ¥90.30 per share.

As of June 26, US$1 was equivalent to ¥123.96.