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Izutsuya fiscal Q3 profit falls YOY

Izutsuya Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, amounted to ¥6.33 per share, a decline of 27.0% from ¥8.67 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥72.5 million, a decline of 27.0% from ¥99.4 million in the year-earlier period.

The normalized profit margin declined to 0.4% from 0.5% in the year-earlier period.

Total revenue decreased year over year to ¥20.04 billion from ¥20.65 billion, and total operating expenses fell on an annual basis to ¥19.87 billion from ¥20.43 billion.

Reported net income totaled a loss of ¥206.0 million, or a loss of ¥17.98 per share, compared to income of ¥131.0 million, or ¥11.43 per share, in the prior-year period.

As of Jan. 8, US$1 was equivalent to ¥119.67.