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King Co. Ltd. fiscal Q3 profit falls YOY

King Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥10.87 per share, a decrease of 8.1% from ¥11.83 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥210.0 million, a decrease of 8.4% from ¥229.4 million in the year-earlier period.

The normalized profit margin dropped to 7.0% from 7.3% in the year-earlier period.

Total revenue fell year over year to ¥3.01 billion from ¥3.13 billion, and total operating expenses decreased from the prior-year period to ¥2.77 billion from ¥2.85 billion.

Reported net income fell on an annual basis to ¥210.0 million, or ¥10.87 per share, from ¥219.0 million, or ¥11.30 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.