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Exedy fiscal Q3 profit falls YOY

Exedy Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥65.45 per share, a decrease of 23.4% from ¥85.47 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥3.14 billion, a decline of 23.4% from ¥4.10 billion in the prior-year period.

The normalized profit margin declined to 4.9% from 7.0% in the year-earlier period.

Total revenue grew 8.2% year over year to ¥63.69 billion from ¥58.88 billion, and total operating expenses rose 12.3% from the prior-year period to ¥59.59 billion from ¥53.09 billion.

Reported net income declined 28.6% year over year to ¥3.07 billion, or ¥63.91 per share, from ¥4.30 billion, or ¥89.51 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.