Toyo Sugar Refining Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to ¥23.27 per share, compared with ¥23.38 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥126.9 million, compared with ¥127.5 million in the prior-year period.

The normalized profit margin rose to 3.5% from 3.4% in the year-earlier period.

Total revenue declined year over year to ¥3.61 billion from ¥3.75 billion, and total operating expenses fell year over year to ¥3.43 billion from ¥3.55 billion.

Reported net income grew 20.1% from the prior-year period to ¥167.0 million, or ¥30.62 per share, from ¥139.0 million, or ¥25.49 per share.

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