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I.K Co. Ltd. fiscal Q3 profit climbs 26.7% YOY

I.K Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 29 amounted to ¥12.75 per share, an increase of 26.6% from ¥10.07 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥47.5 million, an increase of 26.7% from ¥37.5 million in the prior-year period.

The normalized profit margin increased to 1.3% from 1.1% in the year-earlier period.

Total revenue grew 7.5% year over year to ¥3.65 billion from ¥3.40 billion, and total operating expenses increased 6.9% on an annual basis to ¥3.57 billion from ¥3.34 billion.

Reported net income rose 70.4% year over year to ¥46.0 million, or ¥12.35 per share, from ¥27.0 million, or ¥7.25 per share.

As of April 14, US$1 was equivalent to ¥109.17.