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People Co. Ltd. fiscal Q3 profit falls YOY

People Co. Ltd. said its normalized net income for the fiscal third quarter ended Oct. 20 came to ¥12.29 per share, a decrease of 10.4% from ¥13.71 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥53.8 million, a decline of 10.4% from ¥60.0 million in the prior-year period.

The normalized profit margin dropped to 6.3% from 6.8% in the year-earlier period.

Total revenue declined on an annual basis to ¥855.0 million from ¥877.0 million, and total operating expenses decreased from the prior-year period to ¥778.0 million from ¥799.0 million.

Reported net income rose 39.5% year over year to ¥53.0 million, or ¥12.12 per share, from ¥38.0 million, or ¥8.69 per share.

As of Dec. 4, US$1 was equivalent to ¥119.78.