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Owari Precise Products fiscal Q3 profit falls YOY

Owari Precise Products Co.Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to ¥88.46 per share, a decline from ¥91.09 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥102.3 million, a decrease from ¥105.4 million in the year-earlier period.

The normalized profit margin dropped to 2.5% from 2.6% in the year-earlier period.

Total revenue increased on an annual basis to ¥4.14 billion from ¥3.99 billion, and total operating expenses increased on an annual basis to ¥3.99 billion from ¥3.92 billion.

Reported net income declined 14.4% on an annual basis to ¥155.0 million, or ¥134.09 per share, from ¥181.0 million, or ¥156.47 per share.

As of Feb. 8, US$1 was equivalent to ¥115.75.