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Shinnaigai Textile fiscal Q3 profit climbs 13.3% YOY

Shinnaigai Textile Ltd. said its normalized net income for the fiscal third quarter ended Dec. 25, 2015, amounted to ¥26.20 per share, a gain of 13.3% from ¥23.13 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥51.3 million, a gain of 13.3% from ¥45.3 million in the prior-year period.

The normalized profit margin increased to 3.4% from 2.4% in the year-earlier period.

Total revenue declined 18.9% year over year to ¥1.53 billion from ¥1.89 billion, and total operating expenses decreased 20.6% year over year to ¥1.44 billion from ¥1.81 billion.

Reported net income increased 20.5% on an annual basis to ¥53.0 million, or ¥27.10 per share, from ¥44.0 million, or ¥22.49 per share.

As of Feb. 5, US$1 was equivalent to ¥117.16.