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Waseda Academy fiscal Q3 profit climbs 11.8% YOY

Waseda Academy Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥12.92 per share, a gain of 10.9% from ¥11.65 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥106.9 million, an increase of 11.8% from ¥95.6 million in the year-earlier period.

The normalized profit margin rose to 2.2% from 2.1% in the year-earlier period.

Total revenue grew 5.5% on an annual basis to ¥4.89 billion from ¥4.64 billion, and total operating expenses rose 5.3% year over year to ¥4.73 billion from ¥4.49 billion.

Reported net income grew 9.3% year over year to ¥94.0 million, or ¥11.36 per share, from ¥86.0 million, or ¥10.48 per share.

As of Feb. 9, US$1 was equivalent to ¥118.60.