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Ginza Renoir fiscal Q3 profit falls YOY

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Ginza Renoir fiscal Q3 profit falls YOY

Ginza Renoir Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥10.27 per share, a decline of 30.8% from ¥14.84 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥63.1 million, a decline of 30.3% from ¥90.6 million in the prior-year period.

The normalized profit margin dropped to 3.5% from 5.4% in the year-earlier period.

Total revenue climbed 6.9% on an annual basis to ¥1.80 billion from ¥1.69 billion, and total operating expenses increased 10.4% on an annual basis to ¥1.71 billion from ¥1.55 billion.

Reported net income declined 34.8% from the prior-year period to ¥47.8 million, or ¥7.77 per share, from ¥73.3 million, or ¥12.01 per share.

As of Feb. 12, US$1 was equivalent to ¥118.90.