Yamazaki Baking Co. Ltd. said its normalized net income for the third quarter amounted to ¥15.15 per share, an increase of 52.1% from ¥9.96 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.32 billion, an increase of 52.1% from ¥2.19 billion in the year-earlier period.

The normalized profit margin increased to 1.3% from 0.9% in the year-earlier period.

Total revenue climbed year over year to ¥250.75 billion from ¥242.95 billion, and total operating expenses rose on an annual basis to ¥245.59 billion from ¥240.25 billion.

Reported net income grew 68.0% year over year to ¥2.52 billion, or ¥11.49 per share, from ¥1.50 billion, or ¥6.84 per share.

As of Nov. 10, US$1 was equivalent to ¥123.26.