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Nippon Beet Sugar Manufacturing fiscal Q3 loss widens 25.9% YOY

Nippon Beet Sugar Manufacturing Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was a loss of ¥3.20 per share, compared with a loss of ¥2.54 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of ¥45.6 million, compared with a loss of ¥36.3 million in the year-earlier period.

The normalized profit margin fell to negative 0.3% from negative 0.3% in the year-earlier period.

Total revenue declined on an annual basis to ¥14.28 billion from ¥14.45 billion, and total operating expenses totaled ¥14.48 billion, compared with ¥14.62 billion in the prior-year period.

Reported net income came to a loss of ¥91.0 million, or a loss of ¥6.37 per share, compared to a loss of ¥73.0 million, or a loss of ¥5.12 per share, in the prior-year period.

As of Feb. 13, US$1 was equivalent to ¥118.68.