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Maruman & Co. fiscal Q3 profit falls YOY

Maruman & Co. Ltd. said its normalized net income for the fiscal third quarter ended June 30 came to ¥1.58 per share, a decline of 62.2% from ¥4.19 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥19.4 million, a decrease of 62.2% from ¥51.3 million in the prior-year period.

The normalized profit margin fell to 1.2% from 3.1% in the year-earlier period.

Total revenue decreased 6.6% year over year to ¥1.57 billion from ¥1.68 billion, and total operating expenses declined year over year to ¥1.50 billion from ¥1.57 billion.

Reported net income fell 87.0% from the prior-year period to ¥28.0 million, or ¥2.29 per share, from ¥216.0 million, or ¥17.66 per share.

As of Aug. 10, US$1 was equivalent to ¥124.53.