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Joyful Honda fiscal Q4 profit climbs 13.8% YOY

Joyful Honda Co. Ltd. said its normalized net income for the fiscal fourth quarter ended June 20 amounted to ¥29.44 per share, an increase of 13.8% from ¥25.87 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.52 billion, a gain of 13.8% from ¥1.33 billion in the prior-year period.

The normalized profit margin climbed to 3.6% from 3.1% in the year-earlier period.

Total revenue decreased year over year to ¥42.59 billion from ¥43.07 billion, and total operating expenses decreased year over year to ¥40.47 billion from ¥41.26 billion.

Reported net income grew 19.4% on an annual basis to ¥1.21 billion, or ¥23.37 per share, from ¥1.01 billion, or ¥19.57 per share.

For the year, the company's normalized net income totaled ¥108.32 per share, an increase of 10.8% from ¥97.72 per share in the prior year.

Normalized net income was ¥5.59 billion, a rise of 10.8% from ¥5.04 billion in the prior year.

Full-year total revenue fell year over year to ¥163.36 billion from ¥166.86 billion, and total operating expenses declined on an annual basis to ¥155.66 billion from ¥160.07 billion.

The company said reported net income rose 19.6% year over year to ¥5.45 billion, or ¥105.65 per share, in the full year, from ¥4.56 billion, or ¥88.35 per share.

As of Sept. 20, US$1 was equivalent to ¥101.69.