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Asaka Industrial fiscal Q3 profit climbs YOY

Asaka Industrial Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, amounted to ¥94.91 per share, an increase from ¥42.24 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥91.3 million, an increase from ¥40.6 million in the prior-year period.

The normalized profit margin increased to 3.7% from 1.8% in the year-earlier period.

Total revenue increased 8.6% year over year to ¥2.48 billion from ¥2.29 billion, and total operating expenses grew 5.2% from the prior-year period to ¥2.34 billion from ¥2.22 billion.

Reported net income rose on an annual basis to ¥92.0 million, or ¥95.69 per share, from ¥37.0 million, or ¥38.47 per share.

As of Feb. 13, US$1 was equivalent to ¥118.68.