Nippon Flour Mills Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥22.81 per share, a decrease of 22.1% from ¥29.30 per share in the year-earlier period.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.89 billion, a decline of 22.1% from ¥2.42 billion in the year-earlier period.
The normalized profit margin declined to 2.4% from 3.2% in the year-earlier period.
Total revenue rose year over year to ¥77.58 billion from ¥75.38 billion, and total operating expenses grew year over year to ¥75.11 billion from ¥71.92 billion.
Reported net income fell 20.0% on an annual basis to ¥2.18 billion, or ¥26.32 per share, from ¥2.72 billion, or ¥32.90 per share.
As of Feb. 13, US$1 was equivalent to ¥118.68.
