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Mitsuchi fiscal Q3 profit climbs 27.9% YOY

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Mitsuchi fiscal Q3 profit climbs 27.9% YOY

Mitsuchi Corp. said its normalized net income for the fiscal third quarter ended March 31 was ¥57.82 per share, a gain of 27.9% from ¥45.22 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥146.3 million, an increase of 27.9% from ¥114.4 million in the prior-year period.

The normalized profit margin climbed to 4.3% from 3.3% in the year-earlier period.

Total revenue decreased on an annual basis to ¥3.39 billion from ¥3.44 billion, and total operating expenses fell on an annual basis to ¥3.17 billion from ¥3.27 billion.

Reported net income increased 33.3% year over year to ¥184.0 million, or ¥72.74 per share, from ¥138.0 million, or ¥54.56 per share.

As of May 14, US$1 was equivalent to ¥119.24.