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Nippon Seiki fiscal Q3 profit falls YOY

Nippon Seiki Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥75.38 per share, a decline from ¥78.91 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.32 billion, a decline from ¥4.52 billion in the prior-year period.

The normalized profit margin fell to 7.7% from 8.2% in the year-earlier period.

Total revenue climbed year over year to ¥55.98 billion from ¥55.05 billion, and total operating expenses rose 8.3% year over year to ¥53.29 billion from ¥49.20 billion.

Reported net income decreased 12.3% from the prior-year period to ¥4.44 billion, or ¥77.35 per share, from ¥5.06 billion, or ¥88.20 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.