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KYB Corp. fiscal Q3 profit falls YOY

KYB Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥75.71 per share, a decrease of 52.1% from ¥158.20 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.93 billion, a decrease of 46.0% from ¥3.58 billion in the year-earlier period.

The normalized profit margin dropped to 2.1% from 4.2% in the year-earlier period.

Total revenue rose 6.2% year over year to ¥91.57 billion from ¥86.21 billion, and total operating expenses rose 8.3% year over year to ¥88.71 billion from ¥81.87 billion.

Reported net income fell 67.8% from the prior-year period to ¥1.36 billion, or ¥53.39 per share, from ¥4.23 billion, or ¥186.76 per share.

As of Feb. 10, US$1 was equivalent to ¥119.28.