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Nihon Seima fiscal Q3 profit falls YOY

Nihon Seima Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to 7 Japanese sen per share, a decline of 98.4% from ¥4.40 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥250,000, a decrease of 98.4% from ¥16.1 million in the prior-year period.

The normalized profit margin dropped to 0.0% from 1.3% in the year-earlier period.

Total revenue decreased 25.7% on an annual basis to ¥952.0 million from ¥1.28 billion, and total operating expenses decreased 22.4% on an annual basis to ¥951.0 million from ¥1.23 billion.

Reported net income decreased 95.7% year over year to ¥1.0 million, or 27 sen per share, from ¥23.0 million, or ¥6.27 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.