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Marusan-Ai swings to profit in fiscal Q3

Marusan-Ai Co. Ltd. said its normalized net income for the fiscal third quarter ended June 20 amounted to ¥58.77 per share, compared with a loss of ¥3.16 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥134.9 million, compared with a loss of ¥7.3 million in the prior-year period.

The normalized profit margin climbed to 2.3% from negative 0.1% in the year-earlier period.

Total revenue increased 11.7% year over year to ¥5.87 billion from ¥5.26 billion, and total operating expenses grew 7.8% on an annual basis to ¥5.68 billion from ¥5.27 billion.

Reported net income totaled ¥115.0 million, or ¥50.11 per share, compared to a loss of ¥32.0 million, or a loss of ¥13.94 per share, in the prior-year period.

As of July 27, US$1 was equivalent to ¥123.11.