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CSMEN Co. swings to profit in fiscal Q3

CSMEN Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2015, came to ¥22.16 per share, compared with a loss of ¥25.33 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥17.5 million, compared with a loss of ¥20.0 million in the year-earlier period.

The normalized profit margin increased to 1.2% from negative 1.3% in the year-earlier period.

Total revenue fell 8.5% on an annual basis to ¥1.44 billion from ¥1.58 billion, and total operating expenses decreased 12.2% year over year to ¥1.41 billion from ¥1.61 billion.

Reported net income totaled a loss of ¥153.0 million, or a loss of ¥193.77 per share, compared to a loss of ¥30.0 million, or a loss of ¥37.99 per share, in the year-earlier period.

As of Jan. 13, US$1 was equivalent to ¥118.29.