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Sagami Rubber Industries fiscal Q3 profit falls YOY

Sagami Rubber Industries Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥10.46 per share, a decline of 37.4% from ¥16.71 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥113.6 million, a decrease of 37.4% from ¥181.6 million in the prior-year period.

The normalized profit margin fell to 9.6% from 13.9% in the year-earlier period.

Total revenue fell 8.9% on an annual basis to ¥1.19 billion from ¥1.30 billion, and total operating expenses fell 7.1% on an annual basis to ¥974.0 million from ¥1.05 billion.

Reported net income decreased 36.4% on an annual basis to ¥136.0 million, or ¥12.52 per share, from ¥214.0 million, or ¥19.69 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.