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Wakou Shokuhin fiscal Q3 profit falls YOY

Wakou Shokuhin Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, was ¥128.23 per share, a decline of 36.4% from ¥201.50 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥105.0 million, a decrease of 36.4% from ¥165.0 million in the year-earlier period.

The normalized profit margin fell to 5.2% from 9.4% in the year-earlier period.

Total revenue increased 15.3% year over year to ¥2.02 billion from ¥1.75 billion, and total operating expenses climbed 15.8% year over year to ¥1.86 billion from ¥1.60 billion.

Reported net income declined 42.1% on an annual basis to ¥88.0 million, or ¥107.47 per share, from ¥152.0 million, or ¥185.63 per share.

As of Feb. 10, US$1 was equivalent to ¥114.87.