Misawa & Co. Ltd. said its normalized net income for the fiscal third quarter ended Oct. 31 was ¥12.12 per share, an increase of 13.0% from ¥10.73 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥80.6 million, an increase of 13.2% from ¥71.3 million in the year-earlier period.
The normalized profit margin declined to 4.5% from 4.8% in the year-earlier period.
Total revenue grew 20.5% on an annual basis to ¥1.78 billion from ¥1.48 billion, and total operating expenses increased 21.5% year over year to ¥1.65 billion from ¥1.36 billion.
Reported net income increased 10.2% year over year to ¥69.3 million, or ¥10.42 per share, from ¥62.9 million, or ¥9.47 per share.
As of Dec. 10, US$1 was equivalent to ¥118.76.
