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Marusho hotta swings to profit in fiscal Q3

Marushohotta Co.Ltd. said its normalized net income for the fiscal third quarter ended Dec. 31, 2015, amounted to ¥3.76 per share, compared with a loss of 25 sen per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥86.3 million, compared with a loss of ¥5.6 million in the prior-year period.

The normalized profit margin rose to 3.9% from negative 0.3% in the year-earlier period.

Total revenue rose 20.8% year over year to ¥2.22 billion from ¥1.83 billion, and total operating expenses climbed 12.4% on an annual basis to ¥2.08 billion from ¥1.85 billion.

Reported net income totaled ¥121.0 million, or ¥5.27 per share, compared to a loss of ¥14.0 million, or a loss of 61 sen per share, in the prior-year period.

As of Feb. 10, US$1 was equivalent to ¥114.87.