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Sangetsu fiscal Q3 profit falls YOY

Sangetsu Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥18.85 per share, a decrease of 13.9% from ¥21.88 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.42 billion, a decline of 14.6% from ¥1.67 billion in the year-earlier period.

The normalized profit margin dropped to 4.3% from 4.9% in the year-earlier period.

Total revenue declined on an annual basis to ¥32.86 billion from ¥33.84 billion, and total operating expenses decreased year over year to ¥30.68 billion from ¥31.33 billion.

Reported net income fell 26.0% from the prior-year period to ¥1.20 billion, or ¥15.84 per share, from ¥1.62 billion, or ¥21.22 per share.

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