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Nippon Paint Holdings Q3 profit falls YOY

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Nippon Paint Holdings Q3 profit falls YOY

Nippon Paint Holdings Co. Ltd. said its third-quarter normalized net income came to ¥21.82 per share, a decline of 7.9% from ¥23.71 per share in the third quarter ended Dec. 31, 2015.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥7.00 billion, a decline of 7.9% from ¥7.60 billion in the third quarter ended Dec. 31, 2015.

The normalized profit margin declined to 4.3% from 5.4% in the year-earlier period.

Total revenue rose 13.5% on an annual basis to ¥161.02 billion from ¥141.83 billion, and total operating expenses climbed 15.5% on an annual basis to ¥140.05 billion from ¥121.29 billion.

Reported net income declined 6.5% from the prior-year period to ¥9.79 billion, or ¥30.53 per share, from ¥10.47 billion, or ¥32.64 per share.

As of Nov. 14, US$1 was equivalent to ¥113.32.