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Toabo swings to profit in Q3

Toabo Corp. said its normalized net income for the third quarter amounted to ¥40.0 million, compared with a loss of ¥1.9 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to 0.9% from negative 0.0% in the year-earlier period.

Total revenue rose 6.4% on an annual basis to ¥4.54 billion from ¥4.27 billion, and total operating expenses climbed year over year to ¥4.44 billion from ¥4.24 billion.

Reported net income came to ¥30.0 million.

As of Nov. 11, US$1 was equivalent to ¥122.91.