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Aisin Seiki fiscal Q3 profit climbs 13.9% YOY

Aisin Seiki Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2016, came to ¥121.65 per share, an increase of 13.8% from ¥106.93 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥34.54 billion, a gain of 13.9% from ¥30.34 billion in the prior-year period.

The normalized profit margin rose to 3.8% from 3.6% in the year-earlier period.

Total revenue rose 7.6% year over year to ¥907.55 billion from ¥843.44 billion, and total operating expenses rose 6.0% from the prior-year period to ¥840.15 billion from ¥792.80 billion.

Reported net income rose 16.0% year over year to ¥39.87 billion, or ¥140.41 per share, from ¥34.37 billion, or ¥121.15 per share.

As of Feb. 10, US$1 was equivalent to ¥113.57.