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Asahi fiscal Q3 profit falls YOY

Asahi Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 20 amounted to ¥5.28 per share, a decline of 65.0% from ¥15.08 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥138.1 million, a decrease of 65.1% from ¥395.6 million in the year-earlier period.

The normalized profit margin dropped to 1.4% from 4.0% in the year-earlier period.

Total revenue increased year over year to ¥10.10 billion from ¥9.79 billion, and total operating expenses climbed 7.6% on an annual basis to ¥9.87 billion from ¥9.18 billion.

Reported net income declined 71.1% on an annual basis to ¥108.0 million, or ¥4.13 per share, from ¥374.0 million, or ¥14.25 per share.

As of Dec. 26, US$1 was equivalent to ¥120.44.