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Nissan Shatai fiscal Q3 profit falls YOY

Nissan Shatai Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥14.05 per share, a decrease of 21.6% from ¥17.92 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.08 billion, a decrease of 21.6% from ¥2.65 billion in the year-earlier period.

The normalized profit margin fell to 1.8% from 2.0% in the year-earlier period.

Total revenue declined 11.8% on an annual basis to ¥116.19 billion from ¥131.77 billion, and total operating expenses declined 10.8% from the prior-year period to ¥113.91 billion from ¥127.75 billion.

Reported net income fell 35.3% from the prior-year period to ¥2.01 billion, or ¥13.58 per share, from ¥3.11 billion, or ¥21.00 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.