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Corona fiscal Q3 profit falls YOY

Corona Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥64.45 per share, a decrease of 22.6% from ¥83.30 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.89 billion, a decrease of 22.6% from ¥2.44 billion in the year-earlier period.

The normalized profit margin dropped to 6.8% from 7.9% in the year-earlier period.

Total revenue declined 8.9% on an annual basis to ¥28.00 billion from ¥30.75 billion, and total operating expenses declined 6.8% from the prior-year period to ¥25.14 billion from ¥26.96 billion.

Reported net income fell 20.4% year over year to ¥2.02 billion, or ¥68.83 per share, from ¥2.54 billion, or ¥86.42 per share.

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