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Koito Manufacturing fiscal Q3 profit climbs 30.7% YOY

Koito Manufacturing Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to ¥74.83 per share, an increase of 30.6% from ¥57.29 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥12.03 billion, an increase of 30.7% from ¥9.21 billion in the prior-year period.

The normalized profit margin increased to 5.7% from 5.2% in the year-earlier period.

Total revenue rose 19.0% year over year to ¥212.60 billion from ¥178.69 billion, and total operating expenses increased 17.8% on an annual basis to ¥189.39 billion from ¥160.74 billion.

Reported net income increased 34.4% from the prior-year period to ¥15.56 billion, or ¥96.78 per share, from ¥11.57 billion, or ¥72.01 per share.

As of Feb. 4, US$1 was equivalent to ¥117.24.