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LaOX Q3 profit climbs YOY

LaOX Co. Ltd. said its normalized net income for the third quarter was ¥23.61 per share, an increase from ¥8.11 per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥1.59 billion, a gain from ¥441.9 million in the year-earlier period.

The normalized profit margin increased to 5.8% from 3.4% in the year-earlier period.

Total revenue rose on an annual basis to ¥27.41 billion from ¥12.85 billion, and total operating expenses grew year over year to ¥24.91 billion from ¥12.18 billion.

Reported net income rose on an annual basis to ¥2.50 billion, or ¥37.16 per share, from ¥456.0 million, or ¥8.37 per share.

As of Nov. 12, US$1 was equivalent to ¥122.92.