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Johnan Academic Preparatory Institute fiscal Q3 profit falls YOY

Johnan Academic Preparatory Institute Inc. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, came to ¥13.04 per share, a decline of 14.9% from ¥15.32 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥105.0 million, a decrease of 14.9% from ¥123.4 million in the prior-year period.

The normalized profit margin dropped to 6.0% from 7.6% in the year-earlier period.

Total revenue climbed 7.7% on an annual basis to ¥1.76 billion from ¥1.63 billion, and total operating expenses increased 10.6% on an annual basis to ¥1.61 billion from ¥1.46 billion.

Reported net income declined 26.1% on an annual basis to ¥113.0 million, or ¥14.03 per share, from ¥153.0 million, or ¥19.00 per share.

As of Feb. 12, US$1 was equivalent to ¥112.83.