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Canon Marketing Japan Q3 profit climbs 98.7% YOY

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Canon Marketing Japan Q3 profit climbs 98.7% YOY

Canon Marketing Japan Inc. said its normalized net income for the third quarter was ¥35.21 per share, an increase of 98.7% from ¥17.72 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥4.57 billion, an increase of 98.7% from ¥2.30 billion in the prior-year period.

The normalized profit margin rose to 2.9% from 1.5% in the year-earlier period.

Total revenue rose on an annual basis to ¥155.44 billion from ¥150.75 billion, and total operating expenses totaled ¥148.26 billion, compared with ¥147.29 billion in the year-earlier period.

Reported net income increased on an annual basis to ¥4.18 billion, or ¥32.21 per share, from ¥1.85 billion, or ¥14.27 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.