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Daitobo swings to profit in fiscal Q3

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Daitobo swings to profit in fiscal Q3

Daitobo Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to ¥1.09 per share, compared with a loss of ¥1.25 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥32.5 million, compared with a loss of ¥37.5 million in the year-earlier period.

The normalized profit margin increased to 2.4% from negative 2.2% in the year-earlier period.

Total revenue declined 21.3% on an annual basis to ¥1.34 billion from ¥1.70 billion, and total operating expenses fell 28.0% year over year to ¥1.21 billion from ¥1.68 billion.

Reported net income came to ¥43.0 million, or ¥1.44 per share, compared to a loss of ¥68.0 million, or a loss of ¥2.27 per share, in the year-earlier period.

As of Feb. 12, US$1 was equivalent to ¥112.83.