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Meiwa Industry fiscal Q3 profit climbs 55.5% YOY

Meiwa Industry Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥46.44 per share, a gain of 21.4% from ¥38.26 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥159.4 million, a gain of 55.5% from ¥102.5 million in the prior-year period.

The normalized profit margin increased to 3.2% from 2.0% in the year-earlier period.

Total revenue declined on an annual basis to ¥5.00 billion from ¥5.09 billion, and total operating expenses declined from the prior-year period to ¥4.92 billion from ¥5.01 billion.

Reported net income rose 75.5% on an annual basis to ¥165.0 million, or ¥48.08 per share, from ¥94.0 million, or ¥35.09 per share.

As of Feb. 6, US$1 was equivalent to ¥119.01.