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Toray Industries fiscal Q3 profit climbs 17.5% YOY

Toray Industries Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥15.60 per share, an increase of 17.5% from ¥13.28 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥24.97 billion, an increase of 17.5% from ¥21.25 billion in the prior-year period.

The normalized profit margin increased to 4.5% from 3.9% in the year-earlier period.

Total revenue climbed year over year to ¥551.71 billion from ¥539.01 billion, and total operating expenses totaled ¥508.72 billion, compared with ¥503.85 billion in the year-earlier period.

Reported net income increased 25.6% year over year to ¥26.71 billion, or ¥16.69 per share, from ¥21.27 billion, or ¥13.29 per share.

As of Feb. 10, US$1 was equivalent to ¥114.87.