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Hokuryo fiscal Q3 profit climbs 11.9% YOY

Hokuryo Co. Ltd. said its normalized net income for the fiscal third quarter ended May 31 came to ¥33.10 per share, an increase of 11.0% from ¥29.83 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥246.9 million, a gain of 11.9% from ¥220.6 million in the year-earlier period.

The normalized profit margin increased to 6.4% from 5.6% in the year-earlier period.

Total revenue decreased on an annual basis to ¥3.89 billion from ¥3.95 billion, and total operating expenses decreased on an annual basis to ¥3.50 billion from ¥3.61 billion.

Reported net income rose 20.4% on an annual basis to ¥260.0 million, or ¥34.86 per share, from ¥216.0 million, or ¥29.20 per share.

As of July 14, US$1 was equivalent to ¥105.37.