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Ishii Food fiscal Q3 profit falls YOY

Ishii Food Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥2.85 per share, a decline of 63.2% from ¥7.75 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥50.0 million, a decrease of 63.6% from ¥137.5 million in the prior-year period.

The normalized profit margin declined to 1.5% from 4.0% in the year-earlier period.

Total revenue declined on an annual basis to ¥3.37 billion from ¥3.46 billion, and total operating expenses climbed on an annual basis to ¥3.28 billion from ¥3.24 billion.

Reported net income decreased 66.3% from the prior-year period to ¥69.0 million, or ¥3.94 per share, from ¥205.0 million, or ¥11.55 per share.

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