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Nippon Piston Ring fiscal Q3 profit falls YOY

Nippon Piston Ring Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥48.08 per share, a decrease of 13.1% from ¥55.30 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥396.3 million, a decrease of 12.8% from ¥454.5 million in the year-earlier period.

The normalized profit margin fell to 3.1% from 3.6% in the year-earlier period.

Total revenue climbed on an annual basis to ¥12.91 billion from ¥12.69 billion, and total operating expenses grew from the prior-year period to ¥12.40 billion from ¥11.96 billion.

Reported net income increased year over year to ¥925.4 million, or ¥112.28 per share, from ¥424.7 million, or ¥51.67 per share.

As of Feb. 6, US$1 was equivalent to ¥119.01.