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Niitaka fiscal Q3 profit falls YOY

Niitaka Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 28 amounted to ¥24.98 per share, a decline of 8.5% from ¥27.31 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥147.5 million, a decrease of 8.5% from ¥161.3 million in the year-earlier period.

The normalized profit margin fell to 4.1% from 4.7% in the year-earlier period.

Total revenue grew on an annual basis to ¥3.57 billion from ¥3.44 billion, and total operating expenses climbed 5.1% on an annual basis to ¥3.34 billion from ¥3.18 billion.

Reported net income grew 25.3% on an annual basis to ¥198.0 million, or ¥33.54 per share, from ¥158.0 million, or ¥26.76 per share.

As of April 13, US$1 was equivalent to ¥120.36.