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Kuwayama fiscal Q3 profit falls YOY

Kuwayama Corp. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥30.95 per share, a decline of 13.7% from ¥35.86 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥311.3 million, a decrease of 13.7% from ¥360.6 million in the prior-year period.

The normalized profit margin dropped to 3.2% from 3.9% in the year-earlier period.

Total revenue increased 7.4% year over year to ¥9.85 billion from ¥9.17 billion, and total operating expenses increased 9.5% from the prior-year period to ¥9.39 billion from ¥8.58 billion.

Reported net income decreased 18.7% on an annual basis to ¥314.0 million, or ¥31.23 per share, from ¥386.0 million, or ¥38.39 per share.

As of Feb. 10, US$1 was equivalent to ¥119.28.