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Sumitomo Riko fiscal Q3 profit climbs 9.5% YOY

Sumitomo Riko Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, came to ¥11.56 per share, an increase of 9.5% from ¥10.56 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.20 billion, a gain of 9.5% from ¥1.10 billion in the prior-year period.

The normalized profit margin increased to 1.2% from 1.2% in the year-earlier period.

Total revenue grew 6.7% year over year to ¥101.41 billion from ¥95.04 billion, and total operating expenses rose 7.1% from the prior-year period to ¥98.70 billion from ¥92.15 billion.

Reported net income decreased 82.5% year over year to ¥289.0 million, or ¥2.78 per share, from ¥1.65 billion, or ¥15.91 per share.

As of Feb. 2, US$1 was equivalent to ¥117.28.