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Hikari Furniture fiscal Q3 profit climbs 32.8% YOY

Hikari Furniture Co., Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥141.46 per share, an increase of 32.8% from ¥106.48 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥500.6 million, a gain of 32.8% from ¥376.9 million in the year-earlier period.

The normalized profit margin climbed to 21.6% from 15.4% in the year-earlier period.

Total revenue declined 5.1% year over year to ¥2.32 billion from ¥2.45 billion, and total operating expenses decreased 17.1% on an annual basis to ¥1.53 billion from ¥1.85 billion.

Reported net income decreased 13.4% year over year to ¥515.0 million, or ¥145.52 per share, from ¥595.0 million, or ¥168.11 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.