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Kose RE Co. swings to profit in fiscal Q3

Kose R.E. Co. Ltd. said its normalized net income for the fiscal third quarter ended Oct. 31 came to ¥4.61 per share, compared with a loss of ¥3.99 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥37.6 million, compared with a loss of ¥32.0 million in the year-earlier period.

The normalized profit margin increased to 2.3% from negative 4.7% in the year-earlier period.

Total revenue increased year over year to ¥1.64 billion from ¥680.0 million, and total operating expenses grew year over year to ¥1.54 billion from ¥717.0 million.

Reported net income totaled ¥117.0 million, or ¥14.34 per share, compared to a loss of ¥24.9 million, or a loss of ¥3.11 per share, in the year-earlier period.

As of Dec. 11, US$1 was equivalent to ¥121.00.