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Fast Retailing fiscal Q3 profit climbs 43.4% YOY

Fast Retailing Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 was ¥271.46 per share, an increase of 43.3% from ¥189.40 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥27.71 billion, a gain of 43.4% from ¥19.32 billion in the prior-year period.

The normalized profit margin rose to 7.0% from 6.0% in the year-earlier period.

Total revenue climbed 23.1% on an annual basis to ¥398.43 billion from ¥323.65 billion, and total operating expenses grew 23.5% from the prior-year period to ¥359.23 billion from ¥290.98 billion.

Reported net income rose 36.2% on an annual basis to ¥27.61 billion, or ¥270.51 per share, from ¥20.27 billion, or ¥198.65 per share.

As of July 15, US$1 was equivalent to ¥123.95.