Pigeon Corp. said its normalized net income for the fiscal third quarter ended Oct. 31 amounted to ¥20.47 per share, an increase of 7.4% from ¥19.07 per share in the prior-year period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥2.45 billion, an increase of 7.1% from ¥2.29 billion in the year-earlier period.
The normalized profit margin climbed to 11.2% from 10.9% in the year-earlier period.
Total revenue increased year over year to ¥21.94 billion from ¥20.92 billion, and total operating expenses rose 5.2% on an annual basis to ¥18.21 billion from ¥17.31 billion.
Reported net income fell 8.5% from the prior-year period to ¥2.30 billion, or ¥19.23 per share, from ¥2.52 billion, or ¥20.96 per share.
As of Dec. 5, US$1 was equivalent to ¥121.66.
