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Security-service provider Secom Co. said Thursday it posted a group net profit of 9.58 billion yen in the year to March 31, down 73 percent from the year before.

Secom said the profit fall was due largely to one-time charges to cover a shortfall in retirement reserves so as to improve its financial standing.

Group operating revenues grew 9.4 percent to 497.92 billion yen. Revenues in the core security-service business rose 8 percent to 339.16 billion yen.

Group pretax profit fell 37.3 percent to 41.54 billion yen.

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