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Daikin Industries fiscal Q3 profit climbs 16.8% YOY

Daikin Industries Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, was ¥97.34 per share, a gain of 16.7% from ¥83.40 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥28.47 billion, an increase of 16.8% from ¥24.37 billion in the year-earlier period.

The normalized profit margin rose to 6.0% from 5.2% in the year-earlier period.

Total revenue came to ¥475.75 billion, compared with ¥472.97 billion in the prior-year period, and total operating expenses came to ¥429.86 billion, compared with ¥430.58 billion in the year-earlier period.

Reported net income increased 8.6% from the prior-year period to ¥28.95 billion, or ¥98.98 per share, from ¥26.65 billion, or ¥91.20 per share.

As of Feb. 10, US$1 was equivalent to ¥113.57.