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Makita fiscal Q3 profit falls YOY

Makita Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was ¥36.84 per share, a decrease from ¥37.54 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥10.00 billion, a decline from ¥10.19 billion in the year-earlier period.

The normalized profit margin fell to 9.4% from 9.8% in the year-earlier period.

Total revenue grew year over year to ¥106.90 billion from ¥103.48 billion, and total operating expenses increased 6.6% on an annual basis to ¥91.48 billion from ¥85.86 billion.

Reported net income increased from the prior-year period to ¥11.42 billion, or ¥42.03 per share, from ¥11.22 billion, or ¥41.34 per share.

As of Feb. 9, US$1 was equivalent to ¥114.79.