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Lapine Co. Ltd. fiscal Q3 profit falls YOY

Lapine Co. Ltd. said its normalized net income for the fiscal third quarter ended Nov. 30, 2014, came to ¥110.58 per share, a decrease of 10.8% from ¥124.00 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥266.9 million, a decrease of 9.7% from ¥295.6 million in the prior-year period.

The normalized profit margin declined to 8.3% from 9.0% in the year-earlier period.

Total revenue decreased year over year to ¥3.23 billion from ¥3.30 billion, and total operating expenses came to ¥2.81 billion, compared with ¥2.81 billion in the year-earlier period.

Reported net income declined 7.2% from the prior-year period to ¥415.7 million, or ¥172.25 per share, from ¥448.1 million, or ¥187.95 per share.

As of Jan. 14, US$1 was equivalent to ¥116.84.