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Goyo Foods Industry fiscal Q3 profit climbs YOY

Goyo Foods Industry Co. Ltd. said its normalized net income for the fiscal third quarter ended Feb. 28 amounted to ¥32.27 per share, an increase from ¥1.98 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥30.6 million, a gain from ¥1.9 million in the prior-year period.

The normalized profit margin increased to 5.9% from 0.5% in the year-earlier period.

Total revenue rose 42.9% on an annual basis to ¥518.0 million from ¥362.5 million, and total operating expenses climbed 32.1% on an annual basis to ¥463.0 million from ¥350.5 million.

Reported net income rose year over year to ¥47.0 million, or ¥49.52 per share, from ¥4.0 million, or ¥4.21 per share.

As of April 14, US$1 was equivalent to ¥119.09.