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Itochu-Shokuhin fiscal Q3 profit falls YOY

Itochu-Shokuhin Co. Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2014, was ¥109.61 per share, a decline from ¥113.82 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.41 billion, a decrease from ¥1.46 billion in the year-earlier period.

The normalized profit margin dropped to 0.8% from 0.9% in the year-earlier period.

Total revenue came to ¥171.93 billion, compared with ¥171.60 billion in the year-earlier period, and total operating expenses totaled ¥170.00 billion, compared with ¥169.57 billion in the year-earlier period.

Reported net income decreased 52.4% from the prior-year period to ¥1.48 billion, or ¥115.37 per share, from ¥3.11 billion, or ¥242.33 per share.

As of Feb. 6, US$1 was equivalent to ¥119.01.