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Nippon Paint Holdings fiscal Q3 profit climbs YOY

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Nippon Paint Holdings fiscal Q3 profit climbs YOY

Nippon Paint Holdings Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥23.71 per share, a decline of 9.0% from ¥26.05 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥7.60 billion, an increase from ¥7.26 billion in the year-earlier period.

The normalized profit margin fell to 5.4% from 11.3% in the year-earlier period.

Total revenue rose 121.6% year over year to ¥141.83 billion from ¥64.01 billion, and total operating expenses grew 117.7% on an annual basis to ¥121.29 billion from ¥55.70 billion.

Reported net income fell 93.4% from the prior-year period to ¥10.47 billion, or ¥32.64 per share, from ¥157.49 billion, or ¥565.05 per share.

As of Feb. 10, US$1 was equivalent to ¥114.87.