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Kyokuyo fiscal Q3 profit falls YOY

Kyokuyo Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥70.45 per share, a decrease of 20.5% from ¥88.57 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥802.6 million, a decline of 15.4% from ¥948.3 million in the year-earlier period.

The normalized profit margin fell to 1.2% from 1.5% in the year-earlier period.

Total revenue rose 7.3% year over year to ¥67.66 billion from ¥63.05 billion, and total operating expenses rose 7.3% on an annual basis to ¥66.09 billion from ¥61.59 billion.

Reported net income decreased 36.0% from the prior-year period to ¥540.0 million, or ¥47.40 per share, from ¥844.2 million, or ¥78.85 per share.

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