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Joyful Honda fiscal Q3 profit falls YOY

Joyful Honda Co. Ltd. said its normalized net income for the fiscal third quarter ended March 20 amounted to ¥19.75 per share, a decline of 43.1% from ¥34.74 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.02 billion, a decline of 43.0% from ¥1.79 billion in the year-earlier period.

The normalized profit margin declined to 2.6% from 3.9% in the year-earlier period.

Total revenue fell 14.3% on an annual basis to ¥39.48 billion from ¥46.09 billion, and total operating expenses declined 12.6% from the prior-year period to ¥38.10 billion from ¥43.60 billion.

Reported net income fell 43.4% year over year to ¥1.01 billion, or ¥19.49 per share, from ¥1.78 billion, or ¥34.52 per share.

As of May 7, US$1 was equivalent to ¥119.50.