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Toyo Sugar Refining profit holds relatively steady YOY in fiscal Q3

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.